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UBS suspends U.S.-based forex trader in manipulation probe

Swiss bank UBS AG has suspended U.S.-based veteran currency trader Michael Velardi, one of up to six traders placed on leave this week, pending ongoing international investigations into allegations of… Read more »

Sanusi shuns Financial Reporting Council; says invitation in bad faith

Mr. Sanusi says the Council’s report lacked integrity since the FRCN neither gave him fair hearing, nor allowed him the opportunity to respond to the weighty allegations against him. The… Read more »

UBS Said to Suspend FX Traders in New York, Zurich and Singapore

UBS AG suspended foreign-exchange traders in the U.S., Singapore and Switzerland as its investigation into the alleged rigging of currency markets widened, according to a person with knowledge of the… Read more »

Intercontinental Bank: FRC quizzes Akingbola, Access Bank bosses

The Group Managing Director of the defunct Intercontinental Bank Plc, Mr. Erastus Akingbola; former Group Managing Director, Access Bank Plc, Mr. Aigboje Aig-Imoukhuede; and his successor, Mr. Herbert Wigwe, on… Read more »

CBN Confirms Fire Incident at Lagos Office

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Following yesterday evening’s fire outbreak at the Lagos office of the central bank of Nigeria (CBN), the CBN in a statement Wednesday evening confirmed the… Read more »

Suspicious Fire Guts CBN Lagos Office

The office of the Central Bank of Nigeria (CBN) at Tinubu Square in Lagos Island, Lagos was on Tuesday gutted by fire, an incident that has triggered lots of suspicious… Read more »

SEC probes banks and companies in loan securities dealings: WSJ

The U.S. Securities and Exchange Commission has launched an investigation into the increasing number of complex bond deals on Wall Street that may create new opportunities for fraud, the Wall… Read more »

FRC Invites Sanusi, Alade, Moghalu, Akingbola, 11 Others for Questioning

The Financial Reporting Council of Nigeria (FRC) will on Wednesday and Thursday grill the suspended Governor of Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi; the acting Governor of… Read more »