Frauds & Scandals

CBN Tightens Noose against e-Banking Fraud

As part of efforts to tackle fraud on electronic banking platforms, the Central Bank of Nigeria (CBN) has directed deposit money banks (DMBs) to implement anti-fraud solution on their cards management system not later than January 30, 2015.Ce In addition, the banks are expected to ensure that from February 01, […]

Ivorian Court Orders Ecobank to Pay Former CEO Tanoh $12.3 Million

By InvestAdvocate Lagos (INVESTADVOCATE)- Francois Koumoin, the president of the commercial court in Abidjan has ordered pan-African lender, Ecobank Transnational Incorporated to pay Thierry Tanoh its former chief executive officer (CEO) the sum of 7 billion CFA Francs ($12.3 million), according to a Bloomberg report. In March 2014, the pan-African […]