The global financial crisis that began in 2008 caused a severe crisis and exposed several irregularities in the Nigerian Capital Market. Thereafter, Nigerian Central Bank audited Nigerian banks in 2009.
Britain's biggest bank is at the centre of a major HM Revenue and Customs investigation after it opened offshore accounts in Jersey for serious criminals living in this country, The Telegraph can disclose.
Weighed down with stinking toxic assets and gnawing monetary policies, which abruptly shut down sundry income streams of commercial banks, most banks have now devised strategies to meet revenue projections.
..the brokers action was so unserious, contemptible and cynical that it\'s hard to imagine how they even thought of it....Where there is money, there are swindlers. It is unfortunate, but words often associated with money are CHEAT, STEAL, and LIE.
Enough of the gamesmanship! There is a time and place for political and corporate compromises but the events of the last four days has left no one in doubt of the need for regulators to take a decisive action to clean up the mess that is now emboldened.
Cashseed Ventures had demanded the sum of N20 million from the Securities & Exchange Commission (SEC); following the aftermath of clampdown on Wonder Banks. This was contained in a petition made available to Proshare NI today in Lagos Nigeria.
Here is the full transcript of the matter brought under the INVESTMENTS AND SECURITIES ACT NO 29 2007 in the matter of material mis-statements in the published accounts of cadbury Nigeria Plc (2002 - 2005).
Manipulation is s any action performed on a system of a given initial state with hopefully some prior knowledge of the possible outcome (the next state transition of the system that the action will entail), throws a completely new light on the subject.
Insider trading may be perfectly legal, but the term is frequently used to refer to a practice, illegal in many jurisdictions, in which an insider or a related party trades based on material non-public information obtained during the performance of the in
When on July 7, 2006, the technical analyst wrote an article titled ÃƒÆ’Ã†â€™Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¡Ãƒâ€šÃ‚Â¬ÃƒÆ’Ã¢â‚¬Â¦ÃƒÂ¢Ã¢â€šÂ¬Ã…â€œPreventing the type of fraud noted at Wema BankÃƒÆ’Ã†â€™Ãƒâ€ Ã¢â‚¬â„¢ÃƒÆ’Ã¢â‚¬Â ÃƒÂ¢Ã¢â€šÂ¬Ã¢â€žÂ¢ÃƒÆ’Ã†â€™ÃƒÂ
Following complaints received from 30 investors against Jenkins Investments Limited (JIL), the Nigerian Stock Exchange notified the Commission that the cumulative indebtedness of JIL to investors as at January 30, 2007 was N457, 007,494.80.
Customers have been forming queues at Northern Rock branches and the news that the bank is to be helped out by the Bank of England will have come as a shock to most of them. But what if the unthinkable happened - and the Northern Rock really did go bust?
.........I have been a top player in the Nigeria capital market and have helped to run a top company, so at this stage of my life, I do not want to be part of anything that will mislead the capital market, said Kolade.
Following the irreconciliable differences among the board members of the Spring Bank Plc, CBN and the Nigeria Deposit Insurance Corporation (NDIC) have taken over the board with the constitution of neutral members to manage the affairs of the bank.
The Central Bank of Nigeria has sacked the board of the Spring Bank Plc following a festering crisis that tore the directors apart, with about five of the 14 directors of the bank said to be under investigation by the Economic and Financial Crimes Commiss
As the controversy surrounding the alleged overstatement of results of Cadbury lingers on, the capital market community is eagerly awaiting the outcome of on-going investigations on the issue by the apex regulator, the Securities and Exchange Commission.
There is not doubt that the shares of Cadbury Nigeria will be resurrected, but the management of the company has some heavy lifting ahead of them for the investing community to have confidence in the stock again. It is doable because the stock has nowhere
ATM fraud is the latest craze (I have written about ATM scams previously) in petty theft. Despite the security cameras, thieves seem to be targeting ATMs in record numbers. Here we show you in pictures how its done.
Although the company has not accused its sacked executive of personal gains, it did attribute the deliberate breaches in its accounting system and controls to efforts to achieve ambitious growth targets. But what about Akintola Williams Deloitte?
The desire to falsify financial statements by some quoted companies in Nigeria is not entirely new. Recently however, it is becoming acceptable to pass the information out. Is this a tip of the iceberg and a sign of more serious problems with our plcs?