Frauds & Scandals

MTN and Stanbic IBTC mentioned In $8b Money Laundering Petition

Sunday, February 09, 2014 16.21 PM / TheWill / National Daily Newspaper …MTN used as conduit pipe to deplete Nigeria’s external reserves Telecoms giant MTN Nigeria has been accused of engaging in large scale money laundering which has helped in not only depleting Nigeria’s Foreign Exchange (Forex) reserves but also […]

Pan-Africa Lender ETI to Reconstitute Board

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)- Pan-Africa lender Ecobank Transnational Incorporated (ETI) Friday said its set to reconstitute its board of directors. This is coming on the heels of a proposed extraordinary general meeting (EGM) of the bank scheduled for Monday, March 03, 2014 in Lome, Togo. Apart from reconstituting […]

Ecobank calls EGM on reform after criticism by Nigerian watchdog

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 […]