* Oil revenue accounts for 80 pct of gov’t revenues * Probes have found state-oil firm to lack transparency * Nigeria is Africa’s 2nd largest economy, top oil producer Nigeria’s state-energy company NNPC hasn’t accounted for nearly $50 billion in revenue from the sale of crude oil which should have […]
Frauds & Scandals
Ex-Goldman Sachs banker jailed in UK in Nigerian corruption case
* Former banker Preko jailed for 4-1/2 years * Convicted of laundering ex-governor Ibori’s money * Offences committed after Preko left Goldman Sachs Former Goldman Sachs banker Elias Preko was sentenced to 4-1/2 years in prison by a London court on Monday for laundering $5 million on behalf of […]
Union Bank sacks another 137
Union Bank, on Monday, sacked another 137 staff in continuation of the ongoing downsizing of its workforce as a result of the current reform in the banking sector. The affected staff were disengaged, following decision on outstanding disciplinary cases, while some were sanctioned for various acts of misdemeanour. Meanwhile, the […]
