Frauds & Scandals

Sanusi floors Nigerian Government as court rules against FRCN

A Federal High Court in Lagos has barred the Financial Reporting Council of Nigeria, FRCN, from investigating Lamido Sanusi, the suspended governor of Central Bank of Nigeria, CBN. Delivering judgment on Monday, Justice John Tsoho said that although the FRCN is saddled with ensuring good governance in financial matters, their […]

Six dealing members to face NSE disciplinary committee

Six dealing members are to appear before the Disciplinary Committee of the National Council of the Nigerian Stock Exchange this week for having inactive licences. A notice by the Exchange said the affected dealing members were expected to appear before the disciplinary committee on Thursday, May 15, “for a hearing […]

Hacking: Nigerian banks reject foreign ATM cards

The Central Bank of Nigeria’s cash-less policy drive is facing threats as majority of the Automated Teller Machines in the country are rejecting ATM cards issued by foreign lenders for fear of possible invasion by hackers. Sources revealed that Nigerian banks were refusing to grant access on their terminals to […]