Anxiety still runs deep in the financial sector, as a fresh audit of the 24 banks begins on Tuesday, which may culminate in more sacks besides the five Managing Directors (MDs) who lost their jobs in the cleansing done by … read more
The Economic and Financial Crime Commission has frozen the bank accounts of the managing directors of the five banks sacked last week. The affected former MDs are Union Bank’s Bartholomew Ebong, FinBank’s Okey Nwosu, Afribank’s Sebastian Adigwe, Intercontinental Bank’s Erastus … read more
THE Federal Government amnesty deal yesterday received a boost as militants in Bayelsa State surrendered more than 300 rifles and two gunboats to the Presidential Amnesty Implementation Committee. Also in Rivers State, youths and elders in Akuku- Toru Local Council … read more
A senior Nigerian bank executive sacked by the central bank last week has asked a federal court to reinstate him and demanded 50 billion naira ($333 million) in damages, court papers showed on Friday. Nigeria’s central bank fired senior executives … read more
Besides the fact that five bank CEOs were sacked by Central Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi for gross misconduct, the new managements appointed by the apex bank has been grappling with customers’ fear, marked by panic withdrawals … read more
This year’s Ramadan fast begins today. Ramadan is the ninth month on the Islamic calendar.The commencement of the fast is sequel to a directive by the President-General of the Supreme Council For Islamic Affairs (NSCIA) and Sultan of Sokoto, Alhaji … read more
One of the sacked chief executives of the five bailed-out banks has fled abroad, in spite of earlier claims by the Economic and Financial Crimes Commission (EFCC) that there was no escape route for the ousted bank chiefs. “Well, one … read more
AFTER a 15-day lull, 69 militants from three armed groups in Rivers State yesterday embraced the amnesty offer of the Federal Government, surrendering their arms and ammunition. Also yesterday, leaders and groups in the Niger Delta continued to point the … read more
The furore which greeted the recent deliberation and public hearing of the Petroleum Industry Bill presently before the National Assembly is tumultuous. The urge with which various stakeholders travelled to the National Assembly to make their inputs to the Petroleum … read more
Nigeria’s high court has ruled that its country’s government illegally revoked exploration licences granted to a South Korean oil consortium. The Korea National Oil Corporation (KNOC) had filed an action demanding the restoration of two offshore licences, granted in 2005. … read more