August 30, 2016/SEC The attention of the Securities and Exchange Commission, Nigeria (“SEC”) has been drawn to the activities of an online investment scheme tagged ‘MMM Federal Republic of Nigeria (nigeria.mmm.net). The platform has embarked on an aggressive online media campaign to lure the investing public to participate in what […]
Frauds & Scandals
EU demands Apple pay Ireland up to 13 billion euros in tax
August 30, 2016/Reuters By Foo Yun Chee EU antitrust regulators ordered Apple (AAPL.O) on Tuesday to pay up to 13 billion euros ($14.5 billion) in taxes plus interest to the Irish government after ruling that a special scheme to route profits through Ireland was illegal state aid. The massive sum, […]
CBN Says Banks Violating International Money Transfer Laws as Naira Continues to Slide in Parallel Market
August 27, 2016/The Will The Central Bank of Nigeria (CBN) says commercial banks are circumventing its international money transfer rules by criminally opening multiple company and personal accounts where they receive inflows for onward disbursements to recipients in Nigeria. In a circular to banks titled: Illicit International Money Remittances Through […]
