17 results
- 24 Jan 2018
Union Bank Share Scam: Investments and Securities Tribunal Exonerates Akande, Okoloko
The Investments and Securities Tribunal, sitting in Abuja over the illegal procurement of the Bank’s own shares with its funds has exonerated Onikepo Akande and Onajite Okoloko from the shares scam…
- 26 May 2025
Ponzi Scheme Operators Risk N10m Penalty, Others- IST Chair
Amos Azi, chairman, Investment and Securities Tribunal (IST), Amos Azi, has disclosed that the newly enacted Investments and Securities Act now prescribes punitive measures of no less than ten…
- 9 Dec 2025
SEC Urges IST to Freeze all CBEX Bank Accounts in Nigeria
The Securities and Exchange Commission (SEC) has asked the Investments and Securities Tribunal (IST) to order the freezing of all bank accounts belonging to Crypto Bridge Exchange (CBEX) and other…
- 9 Dec 2025
SEC Seeks Freeze of CBEX Accounts Over N1.3tn Ponzi Scheme
Securities and Exchange Commission (SEC) has asked the Investments and Securities Tribunal to order the freezing of bank accounts belonging to Crypto Bridge Exchange (CBEX) and 25 other defendants…
- 23 May 2018
Tribunal Orders FCMB to Pay N988.5m Decade Old Debt
Investments and Securities Tribunal, Abuja, on Wednesday ordered First City Monument Bank Plc (FCMB) to pay the sum of N988.5million to a stock broking firm after a decade long dispute. …
- 2 Feb 2021
IST Orders NDIC to Pay IPO Subscriber
Investment and Securities Tribunal (IST) has ordered the Nigeria Deposit Insurance Corporation (NDIC) to pay a subscriber to an aborted initial public offering (IPO), in a landmark judgment that…
- 25 Sept 2020
FG Sacked IST Members over Fraud- Ahmed
Mrs Zainab Ahmed, minister of Finance Budget and National Planning, has said the Federal Government sacked some past members of the Investments and Securities Tribunal (IST) as they indulged in…
- 5 Jan 2025
SEC to Intensify Crackdown on Ponzi Schemes this Year
Securities and Exchange Commission (SEC) has said that it will intensify efforts to eliminate Ponzi and pyramid schemes, thereby fostering an environment for genuine investment opportunities to…
- 4 Jan 2021
SEC Fights with Chaka Technologies over Investors’ Funds
Securities and Exchange Commission (SEC) and Chaka Technologies Limited are feuding over offering for sale shares, stock or other securities. The Commission, had in a statement, said that the…
- 2 Nov 2023
NDIC to Shut Down Some Banks over Default, Blames Cabals for Failure
Nigeria Deposit Insurance Corporation (NDIC) is working on a winding-up rule that will allow it to take down failing institutions, according to Bello Hassan, managing director of NDIC. Hassan stated…
- 29 Dec 2023
SEC says Nigeria’s Potential for Islamic Finance Jurisdiction Outstanding
The Securities and Exchange Commission (SEC) has said Nigeria has the potential to join the leading global Islamic finance jurisdictions. Mr. Lamido Yuguda, Director General, SEC, said this when the…
- 16 Feb 2024
Senate, CIBN Seek to End Malpractices in the Banking Sector
The Senate committee on Banking, Insurance and other Financial Institutions, chaired by Senator Adetokunbo Abiru and the Chartered Institute of Bankers of Nigeria (CIBN) have vowed to sanitize the…
- 4 Feb 2025
Canal+ to Carve, Spin out MultiChoice's LicenceCo in Aggressive Takeover Bid
Canal+ S.A., a French media and telecommunications conglomerate based in Paris, will restructure MultiChoice Group and carve out its broadcasting licence and South African DStv subscribers into…
- 18 Dec 2024
Fraud in Bank Branches Surges by 31 Percent in Q2 — FITC
The Nigerian banking sector has witnessed a concerning rise in fraudulent activities, with incidents of fraud in bank branches increasing by 31 percent in the second quarter of 2024. This alarming…
- 7 Jan 2021
FG Slams N50 Levy on Electronic Money Transfer of up to N10,000
The Finance Act 2020 recently signed into law by President Muhammadu Buhari, imposes N50 levy on electronic transfer of money deposited in any bank or financial institution on any account on sums of…
- 7 Feb 2021
Criminal Cartel Hijack Bank Data, Demand Ransom in Bitcoins
Criminal cartel recently hijacked a local commercial bank’s data and demanded for a ransom payment in bitcoins, according to the Tribune. This reportedly prompted the Central Bank of Nigeria (CBN) at…
- 31 Mar 2013
Oyo Mega Trade Fair Hold in August
The Oyo Mega Trade Fair 2013 designed to showcase and promote locally made products in Nigeria will hold August 9-18, according to the organizers. Te trade fair with the theme “ Manufacturing…