30 results
- 13 Feb 2018
CBN Seeks Shell Banks Abolished In Nigeria
The Central Bank of Nigeria (CBN) has called for the abolition of shell banks in the country, saying they serve as institutions for money laundering. Shell banks are institutions that carry out…
- 6 Feb 2020
Banks Shell Out N200Bn to Prevent Cyber Attacks in Nigeria
Banks in Nigeria spent some N200 billion preventing various forms of cyber attacks on their operations in the country in 2019, according to Nigeria Computer Society (NCS). NCS also said that two…
- 20 Nov 2016
NNPC, Shell Sign MoUs with Nigerian Banks for $2.2Bn Contractor Financing Support
Shell Companies in Nigeria, supported by the Nigerian National Petroleum Corporation (NNPC) has signed Memoranda of Understanding (MoUs) with eight Nigerian banks under the refreshed Shell…
- 20 Nov 2016
NNPC, Shell Sign MoUs with Nigerian Banks for $2.2Bn Contractor Financing Support
Shell Companies in Nigeria, supported by the Nigerian National Petroleum Corporation (NNPC) has signed Memoranda of Understanding (MoUs) with eight Nigerian banks under the refreshed Shell…
- 17 Feb 2021
Court Blocks Shell’s Accounts in 20 Banks over Alleged Oil Theft
A Federal High Court sitting in Ikoyi, Lagos has granted an interim injunction directing 20 commercial banks to freeze the accounts of Shell Petroleum Development Company of Nigeria Ltd (SPDC). This…
- 6 Jan 2014
CBN Doles Out $26.6Bn to Defend the Naira
Central Bank of Nigeria (CBN) shelled out some $26.6 billion from the nation’s external reserves to save the naira from devaluation last year, according to information on the apex bank’s website. CBN…
- 11 Jun 2018
First Bank Says Media Reports on Contempt Order False
First Bank Nigeria has issued a disclaimer on alleged contempt of court order reports circulating on some media platforms, that Mrs Ibukun Awosika, its chairman and Mr Adesola Adeduntan, managing…
- 14 Jul 2025
FirstBank, NLNG, Shell back QEDNG Creative Powerhouse Summit
Nigeria’s leading commercial bank, First Bank of Nigeria, has joined forces with Mighty Media Plus Network Limited for the maiden edition of the QEDNG Creative Powerhouse Summit. Also supporting the…
- 27 Oct 2013
CWG Listing on NSE to Boost Market Capitalisation
The listing of the shares is expected to boost the market capitalisation of the NSE by about N14 billion, while CWG would be the highest capitalised security in the ICT sector of the exchange.…
- 14 May 2026
NDIC Drags Wema Bank to Court over N125.38Bn Banana Island Assets
Nigeria Deposit Insurance Corporation (NDIC), acting as liquidator of the defunct Gulf Bank Plc., has instituted two separate actions at the Federal High Court in Lagos against Wema Bank Plc. The…
- 6 Apr 2026
CBN Slams Custodian Investment with N419m Fines over Rule Breaches
Custodian Investment Plc shelled out N419.13 million in penalties to the Central Bank of Nigeria (CBN) and other regulators for breaches in the 2025 financial year, up sharply from N19.17 million in…
- 18 Sept 2024
CBN Appoints New Board of Directors for Keystone Bank
Central Bank of Nigeria has reconstituted the board of directors of Keystone Bank. The move announced on Wednesday, is part of the apex bank’s strategy to ensure sustained growth for the financial…
- 17 Mar 2022
Senate Amends Money Laundering Act, Banks to Report Deposits to EFCC
The Senate has passed a bill to amend the Money Laundering Act 2011, which makes it mandatory for Deposit Money Banks and other financial institutions to report to the Special Control Unit Against…
- 11 Oct 2019
Leaders Steal $600Bn from Nigeria Since Independence- Report
Economist magazine has said that an estimated $600bn is believed to have been stolen from Nigeria since its Independence in 1960. The story was published in its online edition of October 10.…
- 12 Aug 2018
Ogoni Chiefs Approach Court to Wind up Bank over N17Bn Judgement Debt
Five chiefs of Ejama-Ebubu community in Eleme Local Government Area, Rivers State have filed a fresh application at the Federal High Court in Lagos, asking the court to wind up First Bank Plc. …
- 6 Jun 2018
Court Convicts First Bank Chairman, MD over N122Bn Judgment Debt
A Federal High Court in Lagos Wednesday convicted Ibukun Awosika, chairman of First Bank of Nigeria Limited, and Dr. Adesola Adeduntan, managing director, as well as the bank for contempt. They were…
- 30 May 2024
Mastercard, AfDB Partner to Accelerate Digital Transformation in Africa
Mastercard and the African Development Bank Group have launched the Mobilizing Access to the Digital Economy (MADE) Alliance: Africa to extend digital access to critical services to 100 million…
- 30 Mar 2009
Diamond Bank Votes N300m for SME Financing
Plans have been finalized by Diamond Bank Plc to lend out N300 million to operators in the micro, small and medium scale businesses in the country, before the end of April this year. In a statement…
- 22 Sept 2013
British Citizens Accuse UK of Fueling Corruption in Nigeria
Some British citizens have blasted their government for fueling corruption in Nigeria, after the think-tank Chatham House, reported that United Kingdom has doled out more than £1billion in aid to…
- 19 Jul 2010
Raseroka Named Multi-Links Telkom’s Acting CEO
An acting CEO in the person of Vincent Raseroka has been appointed for Multi-Links Telkom, following the appointment of Jeffrey Hedberg as the chief executive officer, Multi-Links Telkom.…
- 24 Mar 2019
Shell, UBA Ink $200m Contractor Support Fund
The Shell Petroleum Development Company of Nigeria Limited (SPDC) has upped its contractor support fund with $200 million in a latest effort to boost the financial capacity of vendors and suppliers…
- 26 Nov 2015
Eke, Sidmach Technologies' Chairman Bags NCS Professional Fellowship Award
Mr. Chijioke Anthony Eke, co-founder and chairman‎, Sidmach Technologies Nigeria Limited, has been conferred with the professional fellowship of the Nigeria Computer Society (NCS). Eke was…
- 14 Jul 2017
Corruption: US to Seize $140m from Nigerian Oil Chiefs
US officials said Friday they plan to confiscate $144 million in corruption-tainted assets of Nigerian oil executives found in the United States including an $80 million yacht the “Galactica Star.”…
- 11 Aug 2021
Shell Agrees to Pay $110m to End 30-Year Nigeria Oil Spill Case
Royal Dutch Shell Plc’s Nigerian unit agreed to pay a community in the West African country more than $110 million to resolve a long-running dispute over an oil spill that occurred more than 50 years…
- 6 Jan 2022
Shell Places More Onshore Assets in Nigeria for Sale
Royal Dutch Shell has placed more of its onshore oil assets in Nigeria for sale with at least five Nigerian oil and gas companies preparing to submit their respective bids for the acquisition of the…
- 3 Oct 2013
Task Systems Bags NetApp Gold Award, to Improve Speed & Accuracy in Businesses
Stanley Okpalaeke, managing director, Task Systems Limited has said that the challenge of providing the right technology to businesses to improve their decision making processes, is source of…
- 13 Jul 2010
Task Systems Partners Netapp for Greater Storage Capacity
Task Systems Limited, Nigeria’s number one solutions provider has entered into partnership with NetApp, world leaders in broad storage and management solutions in a move that will substantially…
- 13 Sept 2014
Diamond Bank Flagship Branch Debuts
Diamond Bank Plc has, again, raised the bar in customer service delivery in the financial services sub-sector, with the opening to customers of its multi-purpose banking center at Ajose Adeogun…
- 29 May 2013
Africans Siphon $1.3trn out of Continent in 30 Years
Unrecorded illicit financial outflows from African continent over 30-year time span ranged from between $1.2 trillion to $1.3 trillion in real terms, according to a new joint report by the African…
- 5 Jul 2020
Reps to Grill Banks, Others over $30Bn Forex Racketeering
House of Representatives has summoned 24 banks and 14 oil companies over an alleged forex racketeering leading to an annual loss of over $30bn as revenue. The Joint House of Representatives Committee…