Frauds & Scandals

Oando Secures Court Injunction, restraining SEC, NSE

Culled—Proshare 24/10/2017/NSE Following the directive by the Securities and Exchange Commission of Nigeria, that the Nigeria Stock Exchange should effect a full/technical suspension on the trading of the shares of Oando; the company has obtained an ex-parte order from the Federal High Court. The Federal High Court Injunction is to […]

Senate Passed a Motion on the Need for Intervention in the Etisalat NG $1.2bn Debt Crisis

Culled—Proshare October 24, 2017/Senate  Today, the Senate passed a Motion on the need for intervention in the recent Etisalat Nigeria $1.2 billion debt crisis. In 2013, Etisalat Nigeria acquired a syndicated loan from 13 banks as a medium-term, seven-year facility to fund the expansion of the network in Nigeria. Since […]

President Buhari Fires Maina from Service

October 23, 2017/State House President Muhammadu Buhari has directed the immediate disengagement from service of Mr Abdullahi Abdulrasheed Maina, former chairman of the Presidential Task Force on Pension Reforms. In a memo to the Head of the Civil Service of the Federation, the President equally demanded a full report of […]