Four Nigerian banks among top 500 banking brands in the world in 2016

According to the 2016 Top 500 banking brands ranking published in the February edition of The Banker magazine of Financial Times Group in conjunction with Brand Finance, London, United Kingdom, First Bank of Nigeria is in 320th position out of 500 top banks in the world in 2016. It has moved up from it's former position of 336th from last year.

First Bank of Nigeria Limited retained its number one banking brand ranking in Nigeria for the fifth consecutive year in the global ranking of banks by The Banker magazine.

Four Agbara Bank Robbers Arrested, Admit Stealing N28m

Four suspected members of the armed robbery gang which unleashed terror on commercial banks in the Agbara area of Ogun State last Thursday have confessed to carting away N28m during the operation.

PUNCH Metro gathered that the suspected gang members were arrested by the police in the Sapele area of Delta State.

Their correspondent learnt from a reliable police source that the suspects confessed in their statements that they were also responsible for the killings of seven operatives of the Department of 

State Service on September 16, 2015.

It was learnt that the suspects, who were picked up by the Inspector General of Police Special Intelligence Response Team, engaged the policemen in a shootout during which another policeman was killed.

ICPC orders Mike Okiro to refund N133m to FG

The Independent Corrupt Practices and Other Related Offences Commission has directed the Chairman, Police Service Commission, Mike Okiro, to remit N133 million to the Federal Treasury through the ICPC recovery account at First City Monument Bank.

This was the balance of the N350m he received from the Federal Government for staff trainings and physical monitoring of police personnel during the last general elections.

The ICPC also ordered the workers of the commission who were paid 2-way return ticket and Airport taxi fares to location within the Federal Capital Territory and States with close proximity to Abuja during the monitoring exercise to refund to the treasury monies amounting to N11.75 million.

“Consequently, this commission hereby directs, as follows, that the total balance of N133,413,845.99 from the N350,000,000 2015 Election monitoring exercise domiciled within FCMB be remitted to the Federal Treasury through the ICPC Recovery Account No. 1012929790 at Zenith Bank Plc,” it directed.

The anti-graft agency said these in its report of investigations into allegations of graft levelled against Okiro by a PSC worker, Solomon Kaase, who petitioned the ICPC in May, 2015 over alleged moves by Okiro to swindle the PSC to the tune of N275 million.

EFCC arrest two bank officials for N3.6billion fraud

Press statement from EFCC below...

A crack team of operatives of the Economic and Financial Crimes Commission, EFCC, on Thursday, August 6, 2015 arrested one Kato Ifrahimu Nyam and Godwin Odali, both staff of a new generation bank for conspiring to defraud the bank to the tune of N3.6bn (three billion, six million naira) with an e-payment mandate purportedly from Federal Ministry of Agriculture and Rural Development.

More names of bank debtors released

More names of bank debtors released

The Central Bank of Nigeria-initiated name and shame campaign of banks’ delinquent debtors gained further momentum on Wednesday as First City Monument Bank Limited and Ecobank Nigeria published their lists.

The lists have the names of popular companies, whose directors are prominent Nigerians appearing among the high non-performing loan defaulters.

MRS Oil & Gas, a major player in the downstream sector of the oil and gas industry, topped FCMB’s list of delinquent debtors with a N6.2bn non-performing loan. The list has 86 names with a combined bad debt of N17.11bn.

White Diamond Property Development Limited, a firm owned by a business mogul, Rabiu Isiyaku Rabiu, is the second on the list with a debt of N616m.

Two companies belonging to an ex-Minister of Sports, Saidu Samaila Sambawa, occupied the fourth and sixth numbers on the FCMB list.

The firms, Sigma Engineering & Construction Limited and Sambawa Farms have a combined delinquent facility of N1.04bn.

How Saraki Used Credit Card To Launder Stolen Funds - Sahara Reporters

 

SaharaReporters has received exclusive documents of a police investigation revealing how Nigeria’s current Senate President, Bukola Saraki, made a series of questionable deposits and illegal withdrawals from banks in order to launder stolen funds through shell companies and an American Express credit card. The report was authored by a team of detectives at the Special Fraud Unit of the Nigerian police headed by a Commissioner of Police.

The police investigation found that Mr. Saraki, during his tenure as Governor of Kwara State, was the “prime promoter” of several shell companies, including Skyview Properties Ltd., Limkers Ltd., Dicetrade Ltd., Carlisle Properties and Investment Ltd., and the parent company known as Joy Petroleum.

Senator Saraki’s moneymaking scheme, according to the details of the Special Fraud Unit’s 

investigation, was to withdraw millions of naira disguised as loans from GTBank, Intercontinental Bank, Zenith Bank Plc. The funds were then moved into different accounts, sometimes under the guise that the purpose was to pay off some bank debts with other “loans.”