30 results
- 1 Nov 2016
Beware of “Wonder Banks”, CBN Warns
Central Bank of Nigeria (CBN) has warned Nigerians against patronising what it called ‘wonder banks’, stating that their activities were not regulated by it. And the so-called ‘wonder banks’, are not…
- 6 Jul 2010
CBN, Others Move Against illegal fund managers & Wonder banks
As part of efforts to stem the menace of “Wonder Banks,” the Inter-Agency Committee On illegal Fund Managers recently met to deliberate on issues relating to the activities of illegal…
- 15 Nov 2023
NDIC Urges Nigerians to Stop Patronising Ponzi Schemes, Wonder Banks
The Nigeria Deposit Insurance Corporation, NDIC, has warned traders and business owners from patronising wonder banks and ponzi schemes. Managing Director/Chief Executive, NDIC, Bello Hassan gave…
- 26 Sept 2018
MMCS, Wonder Bank Bolts with Depositors’ N27Bn
Micheno Multipurpose Cooperative Society (MMCS), wonder bank in Calabar has allegedly defrauded unsuspecting customers to the tune of N27 billion, after the operators bolted with their deposits in…
- 11 Sept 2015
Beware of “Wonder Banks”, CBN Warns
Central Bank of Nigeria (CBN), has warned Nigerians to be careful in transacting business with financial houses that promise them outrageous interest rates. Mallam Ibrahim Mu’azu, Director, Corporate…
- 23 Mar 2018
NDIC Warns Nigerians of “Wonder Banks”
The Nigeria Deposit Insurance Corporation (NDIC) has urged Nigerians to be wary of “wonder banks” that give extra-ordinary interest rates and profits on investments. Its Managing Director, Alhaji…
- 6 Feb 2014
SEC Shuts Down New Nation Fund Managers, Wonder Bank
Securities and Exchange Commission (SEC) has sealed-off 36 offices of New Nation fund managers, an alleged a wonder bank in a bid to protect innocent investors from falling into wrong investment…
- 21 May 2014
‘Wonder Bank’ Operator Defrauds Victims of N9.8Bn
Justice Ibrahim Buba of the Federal High Court Lagos was told by prosecution witness, Matthew Chukwu, how an alleged, “Wonder Bank” Operator, Fortune Etaba, defrauded his victims of N9.8 billion.…
- 17 Feb 2020
Court Jails Wonder Bank Operator 3 Years for Cheating
Economic and Financial Crimes Commission (EFCC), Sokoto Zonal Office, has secured the conviction of one Amina Kabo (a.k.a Fauziyya) convicted on a one-count amended charge bordering on cheating to…
- 14 May 2023
Court Remands ‘Wonder Bank’ Operators over Alleged Fraud
Justice Abimbola Awogboro of the Federal High Court in Lagos has remanded three alleged Ponzi scheme operators in prison over their alleged involvement in an N59 million fraud. Chimaobi Ifechukwu,…
- 15 Sept 2008
EFCC Gets More Convictions in Wonder Bank Scam
A Kano State High court presided over by Justice Nuhu Galadanchi last week, sentenced three men: Akinbode Olusegun Seun, Amure Iliasu Ademola and Obajobi Wale to seven years…
- 11 Nov 2025
NDIC Asks Nigerians to Report Suspicious Banks, Breaches
Nigeria Deposit Insurance Corporation (NDIC) has advised Nigerians to seek clarification from the corporation on status of suspicious financial institutions and report banking-related infractions to…
- 30 May 2017
Sidmach Identifies Reasons Banking Data Are Not All Residing in the Cloud
Have you ever wondered how banks get to keep massive amount of money, treasures, document for different individuals without a flinch of mix up? How they get to be all that reliable with keeping and…
- 10 Oct 2016
NDIC to Extend Deposit Insurance Scheme to More Institutions
Nigeria Deposit Insurance Corporation (NDIC) said yesterday it would soon extend its Deposit Insurance Scheme (DIS) course to other higher institutions of learning. Mrs Christiana Efabor, NDIC’s…
- 2 Oct 2022
CBN and NIBSS Raise over Rising Internet Fraud
Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System (NIBSS) have expressed worry over the growing menace of Internet fraud in the financial services sector. They wondered why…
- 8 Feb 2016
Bank Customers Battle CBN, Banks over Current Account Fee
Bank customers under the umbrella of Bank Customers Association of Nigeria (BCAN), have kicked against the introduction of Current Account Maintenance fee by the Central Bank of Nigeria (CBN) saying…
- 16 Dec 2016
NDIC, CBN Mull Digital Currency to Battle MMM
Alhaji Umaru Ibrahim, Managing Director, Nigeria Deposit Insurance Commission (NDIC), yesterday said the commission and Central Bank of Nigeria (CBN) had set up a committee to look into the trending…
- 26 May 2008
The 7 Pillars of Positioning
When it comes to positioning, a correlation does make the truth: organizations that stand for something unique in the mind of consumers or customers grow and prosper while the ones that stand for…
- 11 Jan 2023
Top Digital Marketing Personalities in Nigeria 2022
In the 1990s, the term "digital marketing" was coined, but it wasn't until the early 2000s that traditional marketers began to recognise its impact. However, digital media such as smartphones,…
- 20 Jun 2018
CACOL Accuses CBN of Misappropriating ABP’s N55Bn
Centre for Anti-Corruption and Open Leadership (CACOL) has urged the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to probe the Central Bank of Nigeria (CBN) over…
- 5 Mar 2020
NDIC Pays All Depositors of 18 Failed Banks
Nigeria Deposit Insurance Corporation (NDIC), said it has fully paid all depositors of the 18 failed banks their deposits and paid creditors and shareholders of the banks N4.987 billion as…
- 8 Oct 2023
NDIC Pays 29,573 Depositors of Closed MFBs, PMBs
Mr Bello Hassan, managing director, Nigeria Deposit Insurance Corporation (NDIC), has said it has paid about N1.084 billion to 29,573 depositors of recently-closed microfinance banks and Primary…
- 27 Oct 2022
ALAT of Wema Bank Shows How to Live a Soft Life in a New Video
We are going through interesting times in the country today. Nigeria is a country blessed with a lot of potentials but it seems to struggle. The suboptimal developmental realities have put many…
- 6 Mar 2016
Adeleye, Journalist Presents Book on How to Fix Nigeria
A book, ‘So Long Too Long Nigeria’ a collection of over 100 articles that addressed socio-economic issues affecting Nigeria and Africa and the way forward will be presented to the public at the…
- 13 Nov 2008
Mrs. Florence Seriki: Driving Technology across the Frontiers
The story of Omatek Computers is like the proverbial mustard seed which though was the smallest of the seeds but later turned out to become the biggest of the trees. From the humble beginning of just…
- 10 Nov 2016
Nigerians Angry as Reps Call for MMM Crackdown
Aggrieved Nigerians have reacted angrily to the directive by the House of Representatives mandating the Economic and Financial Crimes Commission (EFCC) and the Central Bank of Nigeria (CBN) to…
- 6 Dec 2016
MMM, Other Quick Money Schemes Rule Nigeria
If you think MMM Nigeria is the only money making scheme in Nigeria, then wait, there are many more, each offering too good to be true returns on investment. Despite warnings by Security and Exchange…
- 3 Mar 2017
3 Million Nigerians Lost N18Bn to MMM – NDIC
The Nigerian Deposit Insurance Corporation (NDIC) has said about three million Nigerians lost N18 billion in the Phonzi scheme, popularly called Mavrodi Mundial Movement (MMM). Alhaji Umaru Ibrahim,…
- 27 Mar 2026
NDIC Insures 99 Percent of Bank Customers
Nigeria Deposit Insurance Corporation (NDIC) has reaffirmed its commitment to protecting depositors and sustaining confidence in the nation’s banking system, declaring that its insurance framework…
- 13 Jul 2017
Nigerians Lost N11.9Bn to Ponzi Scheme – CBN
Central Bank of Nigeria (CBN) said that Nigerians lost N11.9 billion to the Ponzi scheme, popularly called Mavrodi Mundial Movement (MMM) in 2016. This is despite repeated warnings by the Central…