GTBANK DEMANDS PAYMENT OF N334M NON-EXISTENT LOAN FROM CUSTOMER

The duo, Jumoke Adekola and Sarah Ugamah, both of the legal department of the GTBank, further threatened: “Please, note that if you do not pay up the amount outstanding at the expiration of this period, we will be compelled under banking regulations to report the state of your account to the Credit Risk Management System Bureau of the Central Bank of Nigeria.

Jim Ovia, Zenith Bank MD, desperate

Some stockbrokers on the sideline were, however, said to have been doubtful of Ovia’s commitment to the share buy back approach. They argued that the commercial banks, in the first instance, were responsible for the panic state the stock market had degenerated to.

Let the market be (Niyi Akinsiju This Week Column)

As published in the Oct 13, Issue 38. ULD by ol’Victor Ojelabi

What dominated my thoughts all through the slur of last week’s scandalous heehaw of denials of appointment of market makers for the Nigerian stock market and a supposed N600 bail-out, was to simply carry my face, literally speaking, away from official confusion brazenly hoisted [...]

Expert Decries Bank Charges On Returned Cheques As Illegal

As published in the Oct 13, Issue 38. ULD by ol’Victor Ojelabi

Mr. Ori Adeyemo, a forensic accountant and crusader for streamlined bank charges, has decried bank charges on returned cheques and described the fee deducted from accounts in consequence of returned cheques as illegal.

“It is trite that by virtue of Section 10, subsection of the [...]

Millionaire Bank Customers In Dilemma Over EFCC New Rule

As published in the Sept. 28, Issue 33. ULD by ol’Victor Ojelabi.

Until this past July, many commercial banks operating in the country had merely paid perfunctory attention to the demands of the Money Laundering (Prohibition) Act 2004 which require banking institutions to display notice in a conspicuous place directing the attention of customers and the [...]