Contrary to the testimony made last week by the Auditor-General for the Federation (AuGF), Mr. Samuel Ukura, before the House of Representatives’ Committee on Public Accounts that it had commenced the audit of the Nigerian National Petroleum Corporation (NNPC), his office has in another breadth disclosed that it is not […]
Frauds & Scandals
Ecobank Holds EGM Today to Reconstitute Board
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)- Pan-Africa lender Ecobank Transnational Incorporated (ETI) will today (Monday) March 03, 2014 hold and extraordinary general meeting (EGM) to reconstitute its board. On January 09, 2014, Nigeria’s Securities and Exchange Commission (SEC) had advised the pan-Africa bank, to appoint a substantive board chairman who […]
Citigroup reports fraud in Mexico unit, lowers 2013 results
Citigroup Inc (C.N) said on Friday it has discovered fraud in its Mexico subsidiary and is reducing its previously reported 2013 net income by $235 million. The company said in a statement the matter involved about $585 million in short-term credit extended by its Banamex unit to Oceanografia SA de […]
