Wed Oct 28, 2015/Reuters Fraudulent withdrawals and other illegal transactions at Imperial Bank amounted to more than 34 billion shillings ($335 million) over a period of 13 years, the bank’s receiver said in a lawsuit filed at court. Kenya’s central bank ordered privately-owned Imperial Bank to be put under management […]

The Financial Reporting Council of Nigeria has asked the management of Stanbic IBTC Holdings Plc to tender a written apology to it for publishing an advertorial against its recent regulatory decision on the institution. The regulatory agency also denied knowledge of any court process on the outcome of its investigation […]

October 26, 2015/The Will The Financial Reporting Council of Nigeria (FRC) has suspended the Chairman of Stanbic IBTC bank, Mr. Peterside Atedo and Managing Director, Mrs. Sola David-Borha from the board of the bank over accounting irregularities, and improper disclosures in the bank’s 2013 and 2014 financial statements. It also barred […]