Ecobank has called an extraordinary general meeting for March 3 to adopt an action plan and reconstitute its board of directors in response to criticism of its governance by Nigeria’s securities regulator. The meeting of one the biggest financial institutions in sub-Saharan Africa will also adopt a resolution on capital […]
Frauds & Scandals
SAC Capital ex-trader convicted of insider trading
A former SAC Capital Advisors portfolio manager was convicted Thursday of helping his company earn more than a quarter of a billion dollars illegally through trades based on secrets about the testing of a potential breakthrough Alzheimer’s drug. A federal jury in Manhattan found Mathew Martoma, 39, guilty on all […]
Nigeria oil money: ‘$20bn not missing’
Nigeria’s state oil firm has denied an allegation by the central bank chief that it has failed to account for at least $20bn (£12.2bn) of oil revenues. Lamido Sanusi told a senate committee on Tuesday that out of $67bn of oil sold between January 2012 and July 2013, $20bn was […]
