The Federal High Court in Abuja has fixed October 16 for ruling on whether the Managing Director of SunTrust Bank, Halima Buba, can cross-examine an EFCC witness on issues raised during his evidence-in-chief. Justice Emeka Nwite adjourned the trial on Monday following an objection raised by Rotimi Oyedepo, SAN, counsel to the Economic and Financial…
Nigeria’s fight against corruption in its oil sector has taken another turn after a court froze the bank account of Mars Aviation Limited over allegations it received illicit payments from the state-owned oil company. The Federal High Court in Abuja granted the order on 22 September, directing Fidelity Bank Plc to freeze the firm’s account…
Shareholders of Unity Bank Plc have overwhelmingly approved a proposed merger with Providus Bank Limited, a deal regulators say will reinforce stability in Nigeria’s financial sector. At a court-sanctioned Extraordinary General Meeting held on 26 September, 293 Unity Bank shareholders, representing 99.32 per cent of total shareholding worth ₦4.4 billion, voted in favour of the…
Chinese authorities have launched an investigation into Lin Jingzhen, former vice president of the state-owned Bank of China, over alleged “serious breaches of Party discipline and national law.” The Communist Party’s Central Commission for Discipline Inspection and the National Commission of Supervision confirmed the probe in a statement on Tuesday, without elaborating on the accusations….
Consumers in Nigeria are voicing frustration over growing bank charges, alleging unauthorised debits that have left many questioning the fairness of the country’s financial system. Customers interviewed by the News Agency of Nigeria (NAN) said the deductions ranged from alert fees to inflated transfer levies and account maintenance charges. Helen Agodo, a First HoldCo Plc…
Nigeria’s decision to halt the export of raw shea nuts for six months will strengthen local processors and cut production costs, the head of the Nigerian Export-Import Bank (NEXIM) has said. Managing Director Abba Bello told youth members of the ruling All Progressives Congress (APC) in Abuja on Tuesday that the measure would help Nigeria…
First Bank HoldCo Plc says it has spent more than N15 billion to protect its systems against criminals between January and June. Olusegun Alebiosu, the Chief Executive Officer (CEO), First Bank HoldCo Plc, said this in an interview with the News Agency of Nigeria (NAN) in Abuja on Wednesday. Alebiosu, who spoke to NAN on…
Former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has been granted bail by an Abuja High Court in connection with a fresh criminal case involving a disputed housing estate and billions of naira allegedly hidden in proxy accounts. Justice Yusuf Halilu, presiding over the case at the FCT High Court, granted bail to Emefiele…
Some bank customers, especially those of Guaranty Trust Holding Company (GTCO) say they will opt for electronic mail alert from their banks to cut costs and reduce charges on their accounts. Some of them who spoke to the News Agency of Nigeria (NAN) in Abuja on Sunday, said they would deactivate the Short Message Services…
Fidelity Bank Plc says it generated N105.8 billion as its profit before tax (PTB) for the first quarter of 2025. This represents a growth of 167.8 per cent compared to N39.5 billion in same period of 2024. The bank disclosed this in its unaudited financial statements released on the Nigerian Exchange. The company’s gross earnings…
