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 […]

The Appeal Court in Lagos has been urged to upturn the sale of Fortune Towers by Union Bank. Fortune Towers, which is located at 27/29 Adeyemo Alakija Street in Victoria Island area of Lagos, was said to have formed part of the assets of defunct Fortune International Bank Plc. The […]