Frauds & Scandals

Unity Bank names 111 bad debtors

Unity Bank Plc has released the names of 111 customers with bad loans that have failed to make good their obligations to the bank. This followed the expiry of a two-week grace period given by the bank from October 8 to October 22, to such customers, the bank said in […]

Banks to Pay $3.3 Billion in FX-Manipulation Probe

Nov 12, 2014/Bloomberg Regulators in the U.S., Britain and Switzerland ordered five banks to pay about $3.3 billion to settle a probe into the manipulation of benchmark foreign-exchange rates. Switzerland’s UBS AG was ordered to pay the most at $800 million, according to statements from the U.S. Commodity Futures Trading […]

Suicide bomber kills at least 7 at bank in northeast Nigeria

Fri Nov 7, 2014/Reuters * Blast targets ATM point of bank branch in Bauchi state * Attack suspected to be work of Boko Haram insurgents * Continued violence casts doubt on announced “ceasefire” (Adds quote from bank spokesman, details, background) A suicide bomber killed at least 7 people outside a […]