Justice Dehinde Dipeolu of a Federal High Court, Lagos, has ordered a first generation bank to immediately pay the Liquidator of Addy Finance and Investments Limited (in liquidation) the sums of N39 million and $53,078, with pre-judgment interest at 20 per cent and post-judgment interest at 10 per cent per annum. The court also directed the bank to deliver certified …

Popular prophet of the Celestial Church of Christ, Israel Ogundipe, has revealed how a bank offered him N1 billion loan. Ogundipe, who is the founder of Genesis Global Ministry, Lagos, said he was offered the loan to help him expand his ministry to reach more members globally. He revealed this while speaking on a show of popular Nigerian On-Air Personality, …

How God’s voice changed the direction of what was a difficult case. In 2015, or thereabouts, my friend, Boniface Ekong, had a brief. Someone had introduced him to a Pilot, who has a private airline, undertaking private charters. Now, this airline just happened to be in some severe financial distress and was facing major litigations from several quarters that grounded …

The Federal High Court sitting in Lagos has ordered a commercial bank to immediately pay N811,174,229.25 to the Chief Registrar of the court, which is the principal amount claimed by a fintech company, Shago Payments Limited against the bank. Trial judge, Justice Chukwujekwu Aneke ordered that the said sum be held in trust in an interest-yielding account by the Chief …

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, on Saturday, called on Compliance Officers of Banks across the country to desist from unauthorized disclosure of EFCC’s investigation activities and requests from banks to their customers. In a statement by Head of Media and Publicity, Dele Oyewale, in Ibadan, Oyo State capital, Olukoyede decried the unhealthy …

The Lagos State Police Command, yesterday, foiled a bank robbery at one of the old-generation banks opposite Maplewood Estate, in the Oko Oba area of Lagos. One of the suspects was arrested. The command’s Public Relations Officer, Benjamin Hudenyin, confirmed the arrest and explained that “a distress call was received at 4.20 a.m., yesterday, at the Control Room, Ikeja. A …

The Federal Government has charged the governorship candidate of the Peoples Democratic Party (PDP) in Ogun State during the 2023 election, Hon. Oladipupo Adebutu, with money laundering and vote-buying. The government also dragged Zenith Bank, its Managing Director, Ebenezer Onyeagwu, and the head of card services at the bank, Celestina Appeal, before the Federal High Court in Abeokuta for allegedly …

The Board of Directors of the African Development Fund (ADF) has approved eight million dollars to boost the banking system on the continent. A statement by African Development Bank (AfDB) said the fund was for establishing a digitally interoperable unique bank identification system. It said the fund was also meant to establish a harmonised customer identification framework for the Gambia, …

The Nigeria Deposit Insurance Corporation (NDIC) on Thursday in Enugu assured depositors of the safety of their money against unusual bank failures. The assurance was given by the Senior Manager, Enugu Zonal Office of NDIC, Mr Othman Afolayan who represented the Managing Director, Mr Bello Hassan at the NDIC Day at the ongoing 34th Enugu International Trade Fair. He said …

Total assets of the banking industry grew by N14.36 trillion or 24.24 percent from N59.24 trillion at the end of December 2021 to N73.59 trillion in the corresponding period of 2022. The Central Bank of Nigeria (CBN) disclosed this in the personal statement made by the Deputy Governor, Financial System Stability Directorate, Aishah Ahmad, at the last Monetary Policy Committee …