Frauds & Scandals

Federal Court nullifies SEC decision to take over BGL Plc

May 8, 2015/Proshare The Federal High court of Nigeria, Lagos has granted an order granting leave to BGL, by way of judicial review, for orders of certiorari, prohibition, declaration and mandatory injunction in respect of a case brought before Justice M. N. Yunusa asking the Investments and Securities Tribunal (IST) […]

Contempt: Bank Asks Court to Jail DMO’s DG

Ecobank Nigeria Limited has accused the Director General of the Debt Management Office (DMO), Mr. Abraham Nwankwo, for frustrating its move to recover a huge debt allegedly owed it by an oil marketing firm, First Deepwater Discovery Limited. The bank’s lawyer, Mr. Kunle Ogunba (SAN), appeared on Tuesday before a […]

Accused ‘flash crash’ trader tells UK court: ‘I did nothing wrong’

Wed May 6, 2015/Reuters The British trader fighting extradition to the United States on charges of having contributed to the 2010 “flash crash” on Wall Street told a London court on Wednesday he had done nothing wrong and was just good at his job. Navinder Singh Sarao, 36, who traded […]