November 22, 2016/Dangote Management of Dansa Foods Processing Company Limited, on Monday vehemently denied owing Asset Management Corporation of Nigeria (AMCON), to the tune of N400 million. The company, through a release made available confirmed a business relationship with the defunct Intercontinental Bank and the only facility the company once had […]
Frauds & Scandals
FG proposes jail term for dollar hoarders
Culled—Punch Oyetunji Abioye with agency report The Federal Government has proposed an amendment to the Foreign-Exchange Act to enable the imprisonment of anyone who holds foreign currencies, especially the dollar, for more than 30 days. This is the latest measure the government and the Central Bank of Nigeria are considering […]
Exxon in negotiations with Chad over record $74 bln fine -Bbg
Photo Credit: CNBC.com November 16, 2016/Reuters Exxon Mobil Corp is negotiating with Chad over a record $74 billion fine the U.S. oil company was told to pay by a court in the central African nation over unpaid royalties, Bloomberg reported on Tuesday. Exxon has appealed the Oct. 5 court ruling, […]
