The Economic and Financial Crimes Commission, EFCC has declared the Chairman, Abuja Chamber of Commerce and Industry, Mr. Dele Oye and Mrs. Nananshettu Bedell, claimed by the commission as associates of the former Managing Director of Oceanic Bank, Mrs Cecilia Ibru, wanted in connection with the on-going investigation in the banking sector.

* Sanusi moves to check effect of clampdown * Ibru petitions EFCC over bail conditions By our reporter SIXTEEN of the over 60  bank executives being detained by the Economic and Financial Crimes Commission, EFCC, are to be arraigned in Lagos tomorrow on sundry charges of lending money to customers without collateral. And as the […]

Sanusi who was quoted by Reuters while speaking in London at the conference the CBN governor called to reassure counter-party banks and foreign investors about the bailout said that he would not “stand in the way of any foreign banks taking a 100 per cent stake in the five Nigerian institutions”. The CBN also said that the five banks will be run as going concerns until new investors can be found to recapitalise them.

BAYELSA State- born militant singer, Timaya, had a rough taste of love turned sour portion when he was manhandled, handcuffed and subsequently detained by the Festac police for conducting himself in a manner likely to breach public peace.

The Lagos office of the Economic and Financial Crimes Commission, EFCC, was a beehive, yesterday, with the operatives fixing the jigsaw created by the action of the Central Bank of Nigeria, CBN, that removed the boards and Managing Director of five banks, three weeks ago.

The Central Bank of Nigeria, CBN, has denounced attempts by a certain unnamed group to discredit recent measures taken by the apex bank that led to the sacking of the Managing Directors and Executive Directors of five banks.

It was an anti-climax yesterday, as the Economic and Financial Crimes Commission, EFCC, which had promised bank debtors and former bosses hell on earth surprisingly entered into repayment schedules with the debtors, while inviting others for discussion today.

More insights into the motive for the removal of the Chief Executives of Union Bank, Intercontinental, Oceanic, Afribank and Finbank emerged, yesterday, as some top officials of the Central Bank of Nigeria, CBN, opposed to the sack, provided evidence which points to the fact that no special examination of the banks was conducted either by the CBN or NDIC.

ANTI-CONSOLIDATION forces have regrouped with the hope of dismantling the structures and forcing a takeover of the top five banks in the country, Vanguard can now reveal. The grand plan by the group is to cause panic and uncertainty in the industry and make the target banks look unsafe for depositors.

For two weeks running, the dust raised in the nation’s banking sector refused to settle with events happening in quick succession.

The Economic and Financial Crimes Commission, EFCC, led by Farida Waziri, will today storm Lagos with 100 operatives and two Mobile Police units to arrest all loan defaulters who fail to meet the seven-day deadline given by last Tuesday to pay up or have their properties sealed.

THE Presidency Monday rose in strong defence of the new reform initiated by the Central Bank of Nigeria (CBN) for the country’s banking sectors; declaring that the ongoing reforms is aimed at salvaging the sector from imminent collapse, and not to promote so-called northern agenda as perceived in some quarters.

Abuja-The furore that followed the sack of Boards and Chief Executive Officers, CEOs, of five banks and subsequent release of highly controversial list of bad debtors of the banks by the Central Bank of Nigeria, CBN, took a new turn at the weekend,…

Awka – BARELY a week after the kidnap of a popular Nollywood actor, Chief Pete Edochie in Onitsha, Anambra state, another notable figure in the state, this time, a popular Onitsha based transporter and industrialist, Chief Godwin Okeke, popularly known as G.U.O, was kidnapped yesterday at about 9.45 am by armed men, numbering about 12 in front of All Saints Cathedral Onitsha.

* Heat turns on CBN as “debtors” dispute figures * Apex bank officials divided over action; dissenters may lose jobs The Economic and Financial Crimes Commission, EFCC, has arrested two more bank executives in continuation of its inquisition into the affairs of the banks. The latest on the list of arrested persons are: John Waha, […]