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The Lagos Division of the High Court ruled that Union Bank’s sale of a deceased customer’s luxury property in Ikoyi over a N4 million loan “sparks of fraud, collusion and definitely does not show good faith.” Justice I.O Harrison, who delivered the judgement, ruled that Union Bank “acted recklessly” in …

Unity Bank Plc has projected gross earnings of N27 billion and a Profit After Tax of N4 billion in Q4, 2024, in its latest earnings forecast released to the Nigerian Exchange Group. Although the projected gross earnings represent a marginal increase from the N26 billion projected for Q3 2024, the …

Contrary to reports in a section of the media that the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has accepted Shell International Plc’s bid to sell its onshore assets to Renaissance in a transaction worth $1.3bn, investigations have revealed that the Commission has not approved the transaction.   There had been …

The Ajoke Ayisat Afolabi Foundation (AAAF) in partnership with Mrs. Folashade Afolabi, wife of Dr. Taiwo Afolabi, Chairman, SIFAX Group, has distributed bags of rice to 250 widows in Lagos. The donation was aimed at providing support to vulnerable households facing increased food prices and other economic challenges in the …

The Economic and Financial Crimes Commission (EFCC) on Tuesday said bank executives are complicit in aiding money laundering in the country, adding that it would commence prosecution soon. Speaking at the 17th annual conference of the Chartered Institute Bankers of Nigeria, the Chairman of the EFCC, Ola Olukoyede said the …

  Lotus Bank Limited has been hit by an insider fraud scandal allegedly involving over N336 million. Reports indicate that Abdulkarim Arome Mohammed, a staff member in the bank’s Financial Control Department, exploited his system privileges to defraud the bank of a total of N336,993,863.35. This incident comes just two …

The Department of State Services (DSS) has described allegation by the Socio-Economic Rights and Accountability Project (SERAP) that its officers had taken control of its Abuja and Lagos offices, as “inaccurate and misleading”. The DSS, in a publication on its website on Tuesday, said a team of two unarmed operatives …

Veteran Hollywood actor, James Earl Jones, famous for Mufasa in Disney’s The Lion King is dead. Earl Jones peacefully died at his residence on Monday, September 9 2024, at the age of 93. Jones was famously known for being the voice of the Star Wars villain Darth Vader and providing …

Ogun State Governor, Prince Dapo Abiodun, has cautioned transporters against exploiting the public in response to the recent fuel price hike. He announced the release of 100 brand-new 18-seater Compressed Natural Gas (CNG) buses to mitigate the impact on transport costs. During a meeting at his office in Abeokuta with …

Nigeria’s telecom sector risks shutdown as about 800 workers from the Private Telecommunications and Communications Senior Staff Association have embarked on strike, threatening to cripple services nationwide. The union, largely contract staff, warned of massive disruptions to telecom operations if its demands were not met, as this would leave millions of subscribers …