IFC, a member of the World Bank Group, is working with the Securities and Exchange Commission in Nigeria to launch the first long-term, local-currency bond program in the country. The program will allow IFC to issue a series of local-currency bonds totaling up to $1 billion, to deepen domestic capital […]
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UK regulator fines Nigerian bank $815,000 over money-laundering controls
Britain‘s financial services regulator said on Friday it had fined the UK subsidiary of Nigeria‘s Guaranty Trust Bank 525,000 pounds ($815,000) for failing to have adequate controls to prevent money laundering. The Financial Conduct Authority (FCA) said that between May 2008 and July 2010, GT Bank UK had failed to […]
Consolidated Hallmark to pay N180m dividend
Consolidated Hallmark Insurance Plc has said it will pay out a total of N180m dividend to its shareholders for the 2012 financial period. The Chairman, CHI, Dr. Ralph Ekezie, said this during the firm’s 18th Annual General Meeting, which held in Lagos on Wednesday. “In line with our promise to […]
