An estimated N15 billion is lost annually to fake or counterfeit products in terms of tax revenue to the government, income to local manufacturers and employment generation to Nigerians. The director, Legal Services, Standards Organisation of Nigeria (SON), Suleiman Kawo, dropped this hint when the agency hosted the staff and […]
Frauds & Scandals
Investor to object to proposed $4.5 billion JPMorgan settlement
Oct 29, 2014/Reuters A group of funds that threw a monkey wrench in Bank of America Corp’s (BAC.N) proposed $8.5 billion settlement with investors in mortgage-backed securities will object to JPMorgan Chase & Co’s $4.5 billion offer to settle claims over similar investments, according to the lawyer that represents them. […]
Diamond Bank 2014 Q3 Pretax Profit Down 7.2%
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Nigeria’s mid-tier lender Diamond Bank Plc on Wednesday said its third quarter (Q3) pretax profit for the period ended September 30, 2014 declined 7.2 percent to N23.7 billion from N25.6 billion in the Q3 period of 2013, according to a filing with the Nigerian Stock […]
