Looted Funds: Jonathan’s Suit Against EFCC For Feb. 13

Looted Funds: Jonathan’s Suit Against EFCC For Feb. 13

A Federal High Court Lagos, on Wednesday fixed Feb. 13 to hear a suit by the wife of the former Nigerian President Goodluck Jonathan, ex-first lady, Patience Jonathan, against the EFCC seeking to unfreeze her account. Also joined in the suit are; Skye Bank Plc, and a former Special Assistant to ex-President Jonathan, Waripama-Owei Dudafa. Others […]

Pension Assets Grows To N6.02tn

Pension Assets Grows To N6.02tn

The total funds under the Contributory Pension Scheme rose to N6.02tn at the end of November 2016 notwithstanding the impact of recession on the Nigerian economy. This was disclosed in the update on the assets under management obtained by our correspondent from the National Pension Commission on Wednesday. According to the commission, the funds rose from […]

CBN Bars Banks From Bitcoin, Other Virtual Currencies

CBN Bars Banks From Bitcoin, Other Virtual Currencies

The Central Bank of Nigeria (CBN) yeaterday, barred deposit money banks and all other financial institutions from the operation of bitcoin and any other form of virtual currency. The warning by the apex bank yesterday was contained in a circular by the CBN Director of Financial Policy and Regulation Department, Mr. Kevin Amugo, a copy […]

Sterling Rises As Teresa May Promises Parliament Vote On Brexit

Sterling Rises As Teresa May Promises Parliament Vote On Brexit

The Sterling experienced a sudden rise Tuesday by the most since June’s Brexit referendum as Prime Minister Teresa May promised a parliamentary vote on Britain’s deal to leave the European Union and stressed it would seek to stay a key European partner. The pound, already up more than 1 percent as May began to deliver a keenly-awaited […]

Heritage Bank Sacks Workers Massively

Heritage Bank Sacks Workers Massively

Heritage Bank has embarked on massive sack of its workers with at least 400 staff sacked in December. Investigations by the News Agency of Nigeria, NAN, on Monday showed that more workers are pencilled for sack. NAN reports that the bank, in October 2014, acquired Enterprise Bank with about N56 billion ($281 million). A top management source […]

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