Court stops FinBank ex-director’s overseas trip – The Guardian
March 9, 2010 by Bunmi Awolusi · Comments
A Federal High Court, Lagos yesterday refused an application by a former director of Finbank Nig Plc, Dayo Famoroti, seeking its leave to travel to the United States (U.S.) for medical treatment.
Famoroti, alongside former Managing Director, Finbank Nig. Plc, Okey Nwosu, two other directors, Danjuma Ocholi and Agnes U. Ebubedike, are facing a 90-count criminal charge of alleged share manipulations and money laundering running into over N100 billion.
Special court to try bank frauds coming – The Nation
March 5, 2010 by Bunmi Awolusi · Comments
A special court to try bank frauds is in the offing, it was learnt yesterday.
The court is provided for in the Asses Management Corporation of Nigeria Bill (AMCNB) on which the Senate began debate yesterday.
CBN extends circulation date for non-polymer notes – Daily Trust
March 4, 2010 by Bunmi Awolusi · Comments
expiration of circulation date for the existing N5, N10 and N50 paper banknotes as legal tender indefinitely.
The banknotes were supposed to go out of circulation six months after a polymer notes were introduced. CBN introduced polymer notes for the denominations in October, last year. Some people are have started rejecting the banknotes.
Finbank CEO Forecasts Brigther Business Year in 2010
January 8, 2010 by Bunmi Awolusi · Comments Off
The Group Managing Director and Chief Executive Officer of FinBank Plc, Mrs. Suzanne Iroche, has predicted a brighter business year for FinBank.
The CEO said that although 2009 had been a challenging year for FinBank and the banking industry in general, her optimism for the future is based on the unfolding success of various measures the management of the Bank has introduced since assumption of office on August 14, 2009.
Oceanic Bank sacks 1,500 workers – The Guardian
December 22, 2009 by tim · Comments Off
The gale of retrenchment in Nigeria’s banking industry swept away 1,500 jobs at Oceanic International Bank Plc yesterday
The development is coming on the heels of a similar level of job losses at Intercontinental Bank Plc at the weekend.
Banks yet to remit N84.05b pension assets – The nation
December 21, 2009 by tim · Comments Off
The National Pension Commission (Pencom), has said that banks were yet to transfer legacy pension assets worth N84.05 billion to licensed operators.
Intercontinental Bank Sacks 1,500 Workers – The Guardian
December 19, 2009 by tim · Comments Off
Barely a week to the Christmas, Intercontinental Bank Plc yesterday gave unusual gifts to 1,500 members of its staff: “Letter of disengagement from the bank.
The sack letters were served to the affected staff around 3 p.m. yesterday, changing the atmosphere in the financial institution’s banking hall throughout the country to that of shock and disbelief. Those affected were from the position of manager to executive banker level.
Bank Crisis: How CBN Directive, CEOs’ Scheming Propel Mass Sack – The Guardian
November 29, 2009 by tim · Comments Off
Federal Government’s directive to the Central Bank of Nigeria (CBN) to stem the wave of mass sack in banks, a contrary order by the apex bank’s management is brewing trouble in most of the financial institutions.
Akingbola, ex-directors in fresh trouble over N50b loans, bonuses – The Nation
November 29, 2009 by tim · Comments Off
The ex-Executive Vice-Chairman of Intercontinental Bank, Mr. Erastus Akingbola, and five directors are in fresh trouble following new discovery of about N50billion worth of strange bonuses and loans.
It was also learnt that judges’ vacation is delaying the extradition of Akingbola.
Troubled banks: CBN spells out guidelines for investors – Vanguard
October 23, 2009 by Bunmi Awolusi · Comments Off
The Central Bank of Nigeria, CBN, has spelt out the guidelines for investment in any of the 10 troubled banks.
Governor of the bank, Mallam Sanusi Lamido Sanusi, speaking at during a visit to Vanguard Newspapers, in Lagos, yesterday said that the apex bank would not be involved in the recapitalisation of the troubled banks, adding, “we have developed guidelines for the exercise. The banks themselves will handle it and they would work with their advisers.”
