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U.S. regulator sues 16 banks for rigging Libor rate

The Federal Deposit Insurance Corp sued 16 of the world’s largest banks on Friday, accusing them of cheating dozens of other now defunct banks by manipulating the Libor interest rate…. Read more »

Reps uncover fresh missing N35bn

More revelations by the House of Representatives Committee on Public Accounts indicated on Thursday that the Office of the Head of Service of the Federation could not account for N35bn… Read more »

Bank of America back in court over $2.1 billion fraud penalties

A U.S. judge wrestled on Thursday with a U.S. Justice Department request that Bank of America Corp pay $2.1 billion in penalties after being found liable for fraud over defective… Read more »

Nigeria Finance Minister Blames Lobbying for Stalled Oil Reforms

Nigerian lawmakers haven’t passed a long-delayed oil industry reform bill because of “intensive lobbying by interest groups,” Finance Minister Ngozi Okonjo-Iweala said. Foreign and Nigerian groups “benefit from the status… Read more »

Big fine imposed on ex-Goldman trader Tourre in SEC case

A U.S. judge on Wednesday ordered former Goldman Sachs Group Inc trader Fabrice Tourre to pay more than $825,000 after a jury found him liable for defrauding investors in a… Read more »

FG Says N24bn Police Pension Fund Not Missing

12 March, 2014 The Federal Government has debunked the reported disappearance of N24 billion from the Police Pension Fund, saying the money in question was discovered to be an over-estimation… Read more »