N17 Billion Debt Scandal:Yar’Adua positions to take over BankPHB from Atuche

The recent uproar over a N17 billion debt scandal involving BankPHB may have given impetus to the Yar’Adua family to start listening to the argument of close aides of President Umar Musa-Yar’Adua on the strategic need for the President to set off the process of enabling his family to take position for more dominant roles [...]

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 [...]

BankPHB EMBROILED IN N17BILLION FRAUD SCANDAL …EFCC ARRESTS THREE DIRECTORS, IAA VICE-CHAIR

The management of the bank as a body was not in the know of the whole thing; those involved exploited their high offices to approve facilities within the threshold of their approving authorities as executive directors for Ademosun’s scheme.

They say Bank PHB has the backing of Mr. President

The buccaneer style take over of Spring Bank by Bank PHB is still the subject of discourse in banking communities. Where two or more bankers are gathered, discussion invariably narrows down to the acquisition. Two groups have since emerge in any of such discourse, the leering triumphant group that put the joke on the opposite [...]

Investor Beware! A Preview of the Nigerian Capital Market in 2009

Capital market drivers. The prosperity of the capital market depends on the prosperity of the economy. Thus the capacity of the market to successfully provide long-term funds and a good platform to trade in the accompanying securities will depend on the strength of macroeconomic productivity. A productive economy is invariably one in which economic agents [...]

ATUCHE MAY LOSE BANKPHB DEPOSITORS’ NBILLION IN CONTROVERSIAL SPRING BANK ACQUISITION: CBN, SEC, NSE INVOLVED

There is no concise dictionary definition of a bubble share, yet, this rather strange sounding lingo, has become the issue at the heart of the alleged controversial acquisition of Spring Bank Plc by BankPHB Plc. Roughly, bubble share may mean shares held by an individual investor or body corporate that, however, cannot be classified as [...]

OCEANIC BANK, BANK PHB AND STERLING BANK GET CBN LIFELINE

Nigeria’s version of the global credit crunch might have crystalised into a reality that may not be easily wished away. Reports from sources inside the Central Bank of Nigeria asserted that three banks in Nigeria have been given lifelines to shore up their liquidity standing. These banks according to the source are; Oceanic Bank [...]