1/6/2016/Punch By Oyetunji Abioye Diamond Bank Plc has fired 200 members of its workforce as the economic challenges affecting the country continue to batter the financial services industry. This is coming two months after the bank announced that its profit before tax for the first quarter of this year fell […]
Frauds & Scandals
SEC APC Bans BGL, Okumagba, Others for 20 Years
27/5/2016/SEC The Commission received several complaints against the 1st and 2nd Respondent over failure, refusal and/or neglect to liquidate their investments in both the Guaranteed Consolidated Notes (GCN) and Guaranteed Premium Notes (GPN). Upon investigation of the complains it was discovered that the indebtedness of the 1st & 2nd respondent […]
SEC investigating Alibaba’s accounting practices
Wed May 25, 2016/Reuters Alibaba Group Holding Ltd (BABA.N) said it was being investigated by the U.S. Securities and Exchange Commission over whether the Chinese e-commerce company’s accounting practices violated any federal laws. Alibaba’s shares were down 4.1 percent at $77.80 in early trading on Wednesday. The company has provided […]
