British Court Seized Abacha’s 211 Million Pounds Loot

Sanni Abacha

A British court has seized 211,000,000 million pounds looted by the former Nigerian dictator and military head of state, General Sani Abacha. According to report by the UK Metro, the said money was seized from a Jersey bank account that belonged to General Abacha. The money was put in accounts held in Jersey by Doraville Properties Corporation, a British Virgin Islands company. The money worth £211,000,000 was laundered through the U.S. into the Channel Islands but eventually discovered and recovered. The report said, “Money to the value of £211,000,000 has…

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Fidelity Bank: N3b Dividends Pay Out Excites Shareholders

Fidelity Bank

By Bayo Bernard Fidelity Bank Plc has proposed N3.2 billion dividend payout to shareholders ahead the Annual General Meeting, AGM coming up later this year. The development, the tier two lender said came following strong financial results it recorded for the year-ended December 31, 2018. Some shareholders of the bank who spoke with the magazine over the issue said they were happy that the bank has sustained the tradition of paying dividends despite the harsh business environment. Some banks have not paid dividends for years. While speaking on the issue…

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FCMB, WSBI Partnership Targets Two Million Farmers

First City Monument Bank FCMB, Nigeria’s top agro-business promoter has entered into partnership with World Savings and Retail Banking Institute (WSBI) to lift at least two million Nigerian farmers out of poverty. The Adam Nuru-led bank said the partnership will outline framework to deepen agency banking, financial inclusion and savings culture in the informal and agribusiness sectors. WSBI, according to the bank will provide technical oversight supervision on regular basis to ensure the success of the agreement. FCMB on its part will roll out an integrated savings account known as…

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