FCMB Manager bags 121-year jail term for stealing customer’s N112m

Nwachukwu Placidus, a former manager with a branch of First City Monument Bank, FCMB in Onitsha, Anambra State has been sentenced to a cumulative 121 years imprisonment for stealing N112 million belonging to a customer.     Placidus was arrested following a petition by Idemili Microfinance Bank LTD to the Economic and Financial Crimes Commission, EFCC.   The management of …

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$87m Theft Case: AAS Investors Storm FCT High Court To Demand Justice As Jesam, Legal Team Clear The Air At Abayomi’s Hearing (Video)

  The FCT High Court sitting in Jabi, Abuja has adjourned the arraignment of Abayomi Oluwasesan till May 2nd, 2024.   Although the matter was mentioned for hearing, the trial could not go on because of the absence of the Defendant (Abayomi). The prosecutor reported to the court that the prison officers couldn’t bring him because of the recent prison …

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Zenith Bank poised for growth as shareholders approve HOLDCO structure

  Shareholders of Zenith Bank Plc unanimously approved the restructuring of the Bank to a holding company during a court-ordered Extraordinary General Meeting (EGM) held virtually from Zenith Heights, Zenith Bank Plc, Victoria Island, Lagos, on Friday, April 26, 2024.     In accordance with the Scheme of Arrangement dated March 28 2024, pursuant to Section 715 of the Companies and Allied Matters …

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Foremost banker, Jim Ovia appointed Chairman of Nigerian Education Fund by President Tinubu

  President Bola Tinubu has approved the appointment of the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, as the Chairman of the Board of the Nigerian Education Loan Fund (NELFUND). This was announced in a State House Press Release by the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale on April 26, 2024. …

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Dana Airline’s Troubled History of Scandals and Safety Concerns

In the turbulent skies of Nigeria’s aviation industry, Dana Airline has become synonymous with controversy and scandal. From regulatory violations to financial mismanagement, the airline’s history is marred by a litany of transgressions that have raised serious questions about its commitment to safety and integrity. One of the most alarming issues plaguing Dana Airline is the recurrent violation of flight …

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Fidelity Bank Commends Air Peace’s Performance …Celebrates Airline For The Commencement of Lagos-London Route  

Fidelity Bank Plc has commended Air Peace’s performance since it commenced flight operations about 10 years ago.   Dr. Nneka Onyeali-Ikpe, the Managing Director, Fidelity Bank Plc gave the commendation over the weekend in Lagos during a special event organised for the airline by the bank to celebrate Air Peace for the milestone of commencement of direct flights from Lagos …

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Court Adjourns Hearing on Binance Executive’s Bail Application

  Justice Emeka Nwite of the Federal High Court sitting in Maitama, Abuja on Tuesday, April 23, 2024, adjourned hearing on the bail application of Binance Holdings Limited and its executive, Tigran Gambaryan till May 17, 2024.   The Economic and Financial Crimes Commission, EFCC is prosecuting Gambaryan alongside Binance Holdings Ltd and Nadeem Anjarwalla, (currently at large) on five-count charges bordering on alleged …

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AltBank, Sterling One Foundation, Lagos Foodbank combat hunger, champion education

  The Alternative Bank Limited (AltBank) has announced a strategic collaboration with FoodBank and Sterling One Foundation to raise approximately N20 million in support of hunger alleviation and educational initiatives. This initiative aligns with the theme of the African Union Summit 2024, “Educate and Skill Africa for the 21st Century.”     Hassan Yusuf, the Managing Director of The Alternative …

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Fidelity Bank grows Profit by 131.5% in FY 2023, Declares a final dividend of 60kobo per share

  Leading financial institution, Fidelity Bank Plc, has released its 2023 full year Audited Financial Statements, reporting a 131.5% growth in Profit Before Tax to N 124,26 billion. According to the results, which was issued to the Nigerian Exchange (NGX) today, the bank grew Gross Earnings by 64.9% YoY to N555.83 billion, driven by 81.6% growth in Net interest income …

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Trouble Brewing At Wema Bank: Is Moruf Oseni Falling Short In A Year?

In April 2023, the financial sector witnessed a change of guard at Wema Bank Plc, as Moruf Oseni assumed the role of Managing Director and Chief Executive Officer, succeeding Ademola Adebise. With an illustrious career spanning over two decades, Oseni’s appointment was met with optimism, heralding a new era of growth and innovation for the institution.   Fast forward to …

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