Shareholders of Mass Telecommunication Innovation Plc have accused five former directors of the company of illegally utilising about N5.2bn raised by the company through private placement in 2008. A petition written on behalf of the Chairman, MTI, Kasimu Garba, and other shareholders, to the Securities and Exchange Commission by Punuka […]
Frauds & Scandals
Nigeria’s Cocoa Output Seen by Industry Rising 10% in 2013-14
Cocoa output in Nigeria, the world’s fourth-biggest producer, is expected to advance by 10 percent in 2013-14 as rising prices last year lead to the planting of more disease-resistant beans, an industry group said. Cocoa rallied 21 percent in New York last year partly on speculation dry weather would damage […]
SEC judge bars “Big Four” China units for six months over audits
Chinese units of the global “Big Four” accounting firms should be suspended from auditing U.S.-listed companies for six months, a judge in the United States ruled, in an escalation in a long-running dispute over regulators’ access to documents. In a harshly worded 112-page ruling, Securities and Exchange Commission Administrative Law […]
