Chief executive officers of banks have critical roles to play in assisting the Financial Action Task Force to delist Nigeria from its record of non co-operative countries, the Managing Director, Keystone Bank, Mr. Philip Ikeazor, has said. Ikeazor, who spoke at a recent monthly meeting of the Committee of Chief […]
Tag: Bank
US fines ‘Hezbollah’ bank $102 mn for laundering
A Lebanese bank accused of laundering money from drugs and other operations for clients tied to Hezbollah militants agreed Tuesday to pay US authorities $102 million to settle the charges. Beirut-based Lebanese Canadian Bank was singled out in February 2011 for allegedly moving hundreds of millions of dollars for criminal […]
NDIC tackles legal challenges to banks’ liquidation
Excessive litigation and the lack of understanding of the legal role of the Nigeria Deposit Insurance Corporation as liquidator have been identified as the major challenges hampering the effective settlement of depositors. A statement by the corporation on Friday quoted the Managing Director/Chief Executive, NDIC, Alhaji Umaru Ibrahim, as saying […]
