Frauds & Scandals

First Bank Renege on Agreement, Owe N3 million Rent

By Our Correspondent Lagos (INVESTADVOCATE)-First Bank of Nigeria Plc (FBN) owes the sum of about N3.0 million on rents from December 2010 to date. This is coming on the heels of a 50 years lease from late Madam Soyoyo effective December 1960 to December 2010. The property in question is […]

IMF Board Reaffirms Lagarde’s Ability to Manage

By Peter OBIORA InvestAdvocate   Lagos (INVESTADVOCATE) – The Board of the International Monetary Fund (IMF) Tuesday said its confidence in the ability of Christine Lagarde as the Managing Director (MD) of the Fund.   This is contained in a Statement from the IMF and made available to InvestAdvocate in […]

The Wondrous life of Niyi Elumaro

September 13, 2010 When the Economic and Financial Crimes Commission recently arraigned Adeniyi Elumaro for allegedly perpetrating a 404 million naira fraud, he and his partner Rakiya Mamman, dominated the news headlines. After all, the list of alleged victims read like a mini Who’s Who of politicians and dignitaries: Bayero […]