$2.8m Seized Cash is For Political Campaigns- EFCC Source

By Bayo Bernard  The Central Bank of Nigeria, CBN has failed to intervene on the allegation of money laundry in which two officials of Bankers Warehouse are currently being held by the Economic and Financial Crimes Commission, EFCC. The decisionby apex bank to keep mum over the matter, the magazine learned may not be unconnected with ongoing EFCC investigations to unravel the source of the cash and suspicion held by the anti- graft body that the seized is meant for campaign purposes. Two officials of BW were arrested last Thursday…

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MTN Bank: “Enter the Dragon”

  By Oji Odu Still battling to free itself from the noose of N1.04 trillion fine in 2015 for refusing to deactivate unregistered lines, later reduced to N330 billion, and which it yet to fully redeem, $8.1 billion fine for illegal repatriation of said amount between 2007 and 2015 and $2 billion in tax arrears, the decision of South Africa’s telecommunications giant and largest telecommunications operator in Nigeria to delve into the banking sector has raised gave concerns. Under what basis does she want to go head to head with…

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CBN Hammer Hovers over Sky Bank, Others

There is palpable fear in the Banking sector as the Central Bank of Nigeria, CBN, over flouting of orders revolving  around the publication of their Financial statements as required by regulations. It was gathered that no fewer than eight Banks are under scrutiny. The CBN had warned Chairmen of Banks who fail to publish their Financial reports as at when due will face sanctions, and even removal depending on how long the delay was found to be, baring other parameters. Some banks, it was gathered, have even delayed the publication…

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