A Federal High Court in Abuja has granted the Economic and Financial Crimes Commission (EFCC)’s application to freeze 67 banks accounts domiciled in different banks over alleged N52.9 million fraud. Justice Emeka Nwite granted the application after the EFCC’s lawyer, Martha Babatunde, moved an ex-parte motion to the effect, reports NAN. The mo...
•Emefiele goes to court An Assistant Manager with Zenith Bank Plc, Mrs Ifeoma Ogbonnaya, has revealed that the embattled Central Bank of Nigeria (CBN), Governor Godwin Emefiele, and his wife Margaret, were not signatories to the account alleged to have been owned by them. Emefiele is standing trial over abuse of office and alleged $4.5 [&helli...
•Mompha and EFCC Chairman The sixth prosecution witness, Idi Musa, in the trial of Ismaila Mustapha, (a.k.a Mompha) yesterday, told Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos how N35bn was found in two bank accounts linked to the defendant, reports The PUNCH. The Lagos Zonal Command of the Economic and [&hellip...
Commercial banks in Nigeria closed 2.021 million bank accounts in the first quarter of 2024, Q1’24, to clean their books of questionable accounts and comply with regulatory orders on the linkage of bank accounts to the National Identity Number, NIN. This is contained in a report by the Nigerian Interbank Settlement System, NIBSS, which also [&...
•EFCC operatives The Federal High Court in Abuja has issued an interim order empowering the Economic and Financial Crimes Commission (EFCC) to freeze 1,146 bank accounts belonging to individuals and companies. The agency claimed it was investigating them for unauthorised dealing in foreign exchange, money laundering and terrorism financing, re...
•Peter Obi Labour Party presidential candidate, Peter Obi, today, announced that a forensic audit is being carried out on the party’s accounts in line with his request. The demand for an independent audit firm to probe the party account was made on March 14 after the former National Treasurer of the party, Oluchi Oparah, challenged […]...
•Applicants for NIN Over 70 million bank customers are at risk of losing access to their accounts when the Central Bank of Nigeria’s directive on restricting accounts without Bank Verification Numbers and National Identification Numbers goes into effect. The CBN had on December 1, 2023, in a circular directed that a ‘Post no Debit’ restriction...
Confusion reigned in the banking industry yesterday as some banks restricted access to bank accounts not linked to the National Identity Number, as directed by the Central Bank of Nigeria, CBN. The CBN had in a circular on December 1, 2023 directed that banks should place restrictions on all Tier 1 bank accounts without BVN, […]
•Guinea junta Guinea’s junta has ordered government members’ passports to be seized and their bank accounts frozen after dissolving the administration for unknown reasons. The military, who took power in a September 2021 coup, yesterday decreed the dissolution of the government, which has been in office since July 2022, reports AFP. The junta ...
The Central Bank of Nigeria, in its recently revised consumer protection framework, has mandated financial service providers to comply with minimum standards in their advertising and promotional materials. One of the requirements is that FSPs should not make reference to unaudited financial statements in their sales promotion, reports The PUNC...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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