Frauds & Scandals

Halliburton to Pay $1.1 Billion to Settle Spill Lawsuits

Sep 2, 2014/Bloomberg Halliburton Co. agreed to pay $1.1 billion to settle a majority of lawsuits brought over its role in the largest offshore oil spill in U.S. history. The agreement is subject to court approval and includes legal fees, the Houston-based company said in a statement today. Halliburton was […]

Banks lose N159bn to e-frauds –NIBSS

Banks in the country have lost approximately N159bn to electronic frauds and cybercrime between 2000 and 2013, according to a report by the Nigeria Inter-Bank Settlements Systems. The Office of the National Security Adviser disclosed this in a paper entitled ‘Economic and security implications of Denial of Service attacks’. It […]

$520 Million Pay-Off: IMF Board Expresses Confidence on Lagarde

By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)- The board of the International Monetary Fund (IMF) on Friday day said its confidence in the ability of Christine Lagarde as the managing director (MD) of the fund to effectively carry out her duties. This is contained in a Statement from the IMF and […]