The Court of Appeal, Abuja Division, on Friday freed a former chairman of the House of Representatives Committee on Capital Market, Mr. Herman Hembe, saying he had no case to answer in corruption charges filed against him by the Economic and Financial Crimes Commission. The EFCC had accused Hembe of […]
Frauds & Scandals
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. The global financial institutions broke certain swaps contracts they had entered into with the now-closed banks, by separately colluding to […]
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 it collected from the Service Wide Vote within nine years. While the records of the Budget Office of the Federation […]
