Some Nigerian banks exploit the country’s weak accounting system to boost their balance sheets, the Chairman, Securities and Exchange Commission, Dr. Suleyman Ndanusa, has said. Ndanusa said this in a keynote address he delivered at the 2014 Annual Conference of the Association of National Accountants of Nigeria in Abuja on […]

An Economic and Financial Crimes Commission (EFCC) witness, Emmanuel Al-Hassan, on Tuesday told a Lagos High Court that a lot of documents were contrived by the former Managing Director of the defunct Afribank Plc, Sebastian Adigwe, and other directors to cover up over N15 billion allegedly stolen from the bank. […]

The Central Bank of Nigeria (CBN) has said it is closely monitoring two deposit money banks (DMBs) following findings that their capital adequacy ratio (CAR) has fallen below the 10 per cent prudential minimum stipulated under the Basel I and Basel II framework. CAR is the ratio of a bank’s […]