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By Abiola Olawale The First Bank of Nigeria (FBN) has ran into legal conundrum as authorities on Tuesday confiscated the bank's assest in Port Harcourt over the $479 million (N189 billion) judgement debt owed Ejama-Ebubu, a community in Tai Eleme Local Government, Rivers State by the Shell Petroleum Development Company (SPDC) of Nigeria. Federal High…
January 15, 2021
From Segun Amure, (The New Diplomat's Abuja Bureau) Reactions have began to trail the announcement by the Federal government to start borrowing money from unclaimed dividends and funds in dormant accounts owned by Nigerians that are unattended to for at least six years. The funds are to be deployed as special credit to the federal…
January 7, 2021
First City Monument Bank (FCMB) has appointed Yemisi Edun as acting managing Director, following the announcement yesterday that Adam Nuru has gone on leave amid allegation of marital infidelity levelled against him. The bank is currently investigating allegations of sexual misconduct against Nuru as an extramarital affair between him and a former staff of the…
January 6, 2021
FCMB Records 10% Drop in Morning Trading but stood at 6% in the Evening... In a seeming dramatic move, Nigeria’s leading tier-2 bank, First City Monument Bank (FCMB) recorded significant losses at the first trading session of 2021 at the Nigeria Stock Exchange (NSE). The New Diplomat's early morning checks show that NSE reports indicate…
January 5, 2021
Pan-African financial institution, United Bank for Africa (UBA) Plc, went home with two highly coveted recognitions at BusinessDay’s Bank and other Financial Institutions Awards (BAFI). UBA won both the Bank of the Year and the International Bank of the Year at the upscale ceremony which took place at the weekend in Lagos, Nigeria. The frontline…
November 30, 2020
Justice T. B. Adegoke of the Federal High Court sitting in Asaba, Delta State on November 30, 2020  sentenced Mr Onus Osagie Amahian, a former staff of Access Bank, to five years imprisonment for fraud. Mr Amahian was prosecuted by the Benin Zonal Office of the Economic and Financial Crimes Commission, EFCC,  on a 25-count charge bordering…
November 30, 2020
In a dramatic move that would have telling effects on forex transactions, the Central Bank of Nigeria (CBN) has outlawed transfer of foreign exchange (forex) from one customer to another or what is conventionally known as customer-to-customer transfer. Also, the CBN similarly prohibited forex cash lodgements into domiciliary accounts by a second party as it…
November 16, 2020
Integrity and reputational issues have been raised as a former manager of Heritage Bank , one of Nigeria’s commercial banks faces trial for alleged fraudulent diversion of customers funds to personal use. This follows as Fidel Omeje, an erstwhile manager of Heritage Bank’s Onitsha main market branch in Anambra State, was on Thursday hauled before…
October 9, 2020
By Kate Kelly Last November, Urs Rohner, the chairman of the board of Credit Suisse, had a party at a Zurich restaurant to celebrate his 60th birthday. Among the scores of friends, family and business associates who gathered, attendees say, there was a single Black guest: Tidjane Thiam, the bank’s chief executive. The festivities had a…
October 4, 2020
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By Abiola Olawale The First Bank of Nigeria (FBN) has ran into legal conundrum as authorities on Tuesday confiscated the bank's assest in Port Harcourt over the $479 million (N189 billion) judgement debt owed Ejama-Ebubu, a community in Tai Eleme Local Government, Rivers State by the Shell Petroleum Development Company (SPDC) of Nigeria. Federal High…
January 15, 2021
From Segun Amure, (The New Diplomat's Abuja Bureau) Reactions have began to trail the announcement by the Federal government to start borrowing money from unclaimed dividends and funds in dormant accounts owned by Nigerians that are unattended to for at least six years. The funds are to be deployed as special credit to the federal…
January 7, 2021
First City Monument Bank (FCMB) has appointed Yemisi Edun as acting managing Director, following the announcement yesterday that Adam Nuru has gone on leave amid allegation of marital infidelity levelled against him. The bank is currently investigating allegations of sexual misconduct against Nuru as an extramarital affair between him and a former staff of the…
January 6, 2021
FCMB Records 10% Drop in Morning Trading but stood at 6% in the Evening... In a seeming dramatic move, Nigeria’s leading tier-2 bank, First City Monument Bank (FCMB) recorded significant losses at the first trading session of 2021 at the Nigeria Stock Exchange (NSE). The New Diplomat's early morning checks show that NSE reports indicate…
January 5, 2021
Pan-African financial institution, United Bank for Africa (UBA) Plc, went home with two highly coveted recognitions at BusinessDay’s Bank and other Financial Institutions Awards (BAFI). UBA won both the Bank of the Year and the International Bank of the Year at the upscale ceremony which took place at the weekend in Lagos, Nigeria. The frontline…
November 30, 2020
Justice T. B. Adegoke of the Federal High Court sitting in Asaba, Delta State on November 30, 2020  sentenced Mr Onus Osagie Amahian, a former staff of Access Bank, to five years imprisonment for fraud. Mr Amahian was prosecuted by the Benin Zonal Office of the Economic and Financial Crimes Commission, EFCC,  on a 25-count charge bordering…
November 30, 2020
In a dramatic move that would have telling effects on forex transactions, the Central Bank of Nigeria (CBN) has outlawed transfer of foreign exchange (forex) from one customer to another or what is conventionally known as customer-to-customer transfer. Also, the CBN similarly prohibited forex cash lodgements into domiciliary accounts by a second party as it…
November 16, 2020
Integrity and reputational issues have been raised as a former manager of Heritage Bank , one of Nigeria’s commercial banks faces trial for alleged fraudulent diversion of customers funds to personal use. This follows as Fidel Omeje, an erstwhile manager of Heritage Bank’s Onitsha main market branch in Anambra State, was on Thursday hauled before…
October 9, 2020
By Kate Kelly Last November, Urs Rohner, the chairman of the board of Credit Suisse, had a party at a Zurich restaurant to celebrate his 60th birthday. Among the scores of friends, family and business associates who gathered, attendees say, there was a single Black guest: Tidjane Thiam, the bank’s chief executive. The festivities had a…
October 4, 2020
