Tag Archives: Banking

Access Bank Acquires Diamond Bank

Access Bank Plc has finally acquired Diamond Bank Plc. According to insiders, the official announcement of the transaction will be made in the course of the week by the Central Bank of Nigeria, CBN. Another source confirmed that the deal has been sealed, awaiting final ratification from the regulatory body. The acquisition was midwifed by the CBN in a bid

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Africa Fashion Week Day 1, The Glitz, The Glam & The Runway

The 2018 Africa Fashion Week Nigeria (AFWN), held over the weekend precisely Saturday and Sunday. The glitzy event, which has become a reputable platform to celebrate African fashion designers both in Nigeria and London, was replete with its usual pomp and glamour. Doing its best to showcase the raw talent inherent in Nigerian, nay African designers, the AFWN, which is

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Ex-UBS Trader Kweku Adoboli Who ‘Gambled Away $1.4B’ To Be Deported To Ghana

The lawyer of Kweku Adoboli, a former UBS banker convicted for causing the biggest trading loss in British banking history will on Monday make a final attempt to prevent his imminent deportation a day later by filing for a judicial review. Adoboli’s solicitor Jacqueline McKenzie told reporters at a press conference Thursday that her client is due to be deported

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NIGERIANS RAISE CONCERNS OVER MULTIPLE TAXATION ON MTN BY THE FEDERAL GOVT  

The Federal Government has again ordered Africa’s leading mobile operator MTN to pay back taxes of $2 Billion, just days after the government ordered it to repatriate $8.13 Billion, which it had paid into its home country through 4 Nigerian banks, namely, Stanbic IBTC, Diamond Bank, Citi Bank and Standard Chartered Bank. MTN gave a brief statement to the market

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FCMB BANK IN ANOTHER THEFT CONTROVERSY, AS NINE BANK STAFF ABSCOND WITH N.5 BILLION CUSTOMERS’ DEPOSITS

The theft that happened in First City Monument Bank (FCMB), which was exposed by The Capital Online, has taken a fresh dimension as the management of FCMB along with the Police authorities has declared the nine bankers responsible for the diversion of over N500 Million of customers monies wanted. According to The Capital Online’s report on August 18th, “customers of

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Ghana’s Banking Crisis: How Ex-President Mahama’s Brother GHC302M Debt Collapsed UT Bank

President Mahama (Left), Brother Ibrahim Mahama (Right)

A leaked report of how UT Bank collapsed in 2017, commissioned by the Bank of Ghana (BoG) has revealed that the brother of ex-president John Mahama, Ibrahim Mahama, was among those who heavily owed the bank, leading to its eventual collapse. A loan facility of GHC302 Million ($65M) was extended to the businessman’s four companies, without following proper banking procedures

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CID Stops $70M Bank Theft, Grabs 12 Suspects Made Up of Ghanaians & Nigerians

Twelve (12) suspected cyber-criminals made up of Ghanaians and Nigerians, have been arrested by the Criminal Investigations Department (CID) of the Ghana Police Service for an attempted bank theft amounting to 326 Million Cedis ($70 Million), in the biggest ever cybercrime burst in Ghana. An Accra Circuit Court on Friday, 27th July, remanded 11 out of the 12 suspects into

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