HOW BANKPHB LOST N7BILLION TO THE USA SUBPRIME CRISES

BankPHB may have lost the equivalence of N7billion directly to the United States of America’s property sector crises. Sources in the bank informed Fortune and Class Weekly that the bank had excitedly approved a proposal by one of its customers that wanted to invest in the USA’s property market in the aftermath of the subprime [...]

BANK MDs TROOP TO FIRST BANK FOR BAIL-OUT…FINANCIAL INSTITUTIONS REJECT SHARES AND PROPERTY AS COLLATERAL

First Bank of Nigeria might have become the unofficial lender of last resort for many banks currently experiencing liquidity problems. A bank is said to experience liquidity crisis when it can not support its short term obligation to its customers by itself. Thus to continue to serve the needs of its customers, the bank may [...]

CUSTOMER CLAIMS N135MILLION EXCESS BANK CHARGES FROM DIAMOND BANK

Transnational Haulage Limited, a long standing customer of Diamond Bank Plc has filed court papers pleading a Lagos High Court to among other prayers, order Diamond Bank to refund excess bank charges totaling N74,0403,642.18 plus a mandatory Central Bank of Nigeria’s penalty for non refund of excess bank charges fourteen (14) days after they have [...]

STANBIC IBTC BANK AFFIRMS BANKING INDUSTRY’s HIDDEN CHARGES

Have you watched the recent couple eating out at a restaurant television commercial of Stanbic IBTC? The television commercial is quite entertaining what with the embarrassment the couple had to endure at the restaurant. But, in fact, the message of the television commercial is succinct enough; it tells of the hidden charges to services rendered [...]

Delay of Public Offer Returned Money: Wema Registrars Accuses Access Bank of Forgery, Manipulation

Mr. Gbenga Oyebode (SAN) Chairman of the Board of Access Bank Plc was intent at justifying his bank’s decision to change its registrars, so, he announced to shareholders gathered at the venue of the bank’s 2008 Annual General Meeting that because his bank was dissatisfied with the services of its former registrars, Wema Registrars, over [...]

WONDER BANKS TALE OF WOES IN KADUNA

Still grappling with the suitable strategy to refund thousands of investors money trapped in 38 so called wonder banks in Lagos State and other parts of South West Nigeria, another rash of failed investment schemes is in the making in Kaduna State.
Some variants of failed investment schemes in Lagos and other states in South West [...]