The Economic and Financial Crimes Commission (EFCC) has secured a court order to detain two former bank Chief Executives in its custody till November 3.

The Economic and Financial Crimes Commission (EFCC) has obtained a court order to detain the three sacked managing directors in its custody for two weeks.

A new United Nations report calls for the lifting of restrictions and costly fees imposed on the $40 billion that migrant workers send home to Africa each year, the world body's agency tasked with eradicating rural poverty said today.

CONFIDENCE in the civil construction sector dropped sharply in the third quarter, primarily due to the decline in private sector demand, the latest First National Bank (FNB)- Bureau for Economic Research survey showed yesterday.

Council of Ministers orders arrest of suspects as bank governor faces dismissal.

The House of Representatives yesterday mandated its committees on Banking and Currency, Capital Market and Justice to investigate former Central Bank governor Prof Chukwuma Soludo and other former top leaders of the bank over the rot in the banking sector.

In continuation of investigations into five banks taken over by the Central Bank of Nigeria on Octobers 2, the Economic and Financial Crimes Commission yesterday invited and detained the sacked former managing director of Bank PHB Plc, Francis Atuche and

Two weeks after the Central Bank of Nigeria removed the executive management of Equitorial Trust Bank, billionaire businessman, Dr. Mike Adenuga Jnr, has injected $150 million into the bank.

Economic and Financial Crimes Commission (EFCC), yesterday in Lagos arrested the former Managing Director of Bank PHB, Mr Francis Atuchie, and a stockbroker, Mr Peter Ololo. Ololo interestingly is standing trial before a Federal High Court, Lagos, alongside Mr Sebastian

The Federal Government has stated that it would only nationalize troubled banks that fail to recapitalize as a last resort. A statement by the Special Assistant (Communication) to the Minister of Finance, Ms Deborah Okafor, clarified the position of government,

The Minister of National Planning, Dr. Mansur Muhtar, has challenged the management and board of the Nigeria Export-Import (NEXIM) Bank to wake up to its responsibilities.

NICOZDIAMOND Insurance Limited shareholders will next month convene an Extraordinary General Meeting to consider directors' proposal to increase the share capital of the company from 500 billion ordinary shares to 800 billion shares.

The financial services sector in Tanzania is gearing up for new competition from three West African banks.

Some operators of Microfinance Banks (MFBs) want the Central Bank of Nigeria (CBN) to extend the date of re-capitalization exercise in the subsector.

The new Board of the Nigerian Export - Import Bank (NEXIM) must work hard to transform it for optimal performance, the Minister of Finance has said.

As the balance sheets of insurance companies for 2008 financial year began to stroll in with most companies posting heavy losses partly because of the effect of economic crunch, calls for more innovative ways of doing insurance business in Nigeria

CASE ONE: A young lady was in tears when she couldn't withdraw a desperately needed twenty thousand naira with her ATM card. The till said she had only one thousand naira left in her account.

KENYA Commercial Bank (KCB) is to give scholastic materials worth sh25m to needy pupils across the country. James Agin, the managing director, said over 160 KCB teams in Uganda, Kenya, Tanzania, Sudan, and Rwanda would work with various needy communities

House of Representatives yesterday said it had uncovered a N28 billion scam involving 14 commercial banks charged with the responsibility of receiving payments in respect of the lease and sale of Federal Government landed property across the country.

An Ikeja Magistrate's Court yesterday gave the Economic and Financial Crimes Commission (EFCC) the go-ahead to detain the former managing directors/chief executive officers of BankPHB, Francis Atuche, and his Spring Bank counterpart , Charles Enaholo Ojo.