Investigation Reveals Where Bank Loans Went Bad

A Fortune&Class in-house panel of experts has, after a review of the bad loans accrued to the five banks currently under the Central Bank of Nigeria’s direct supervision, submitted that the Federal Government holds largest liability in repayment to the banks. The committee of experts nonetheless observed that the figures made public by the CBN [...]

IBRU FAMILY RECRUITS SENATE LEADERSHIP, PRESIDENT’S WIFE TO SAVE CECILIA

The Ibru family reportedly threw all its influence and moneyed privileges into the battle to mitigate the public embarrassment of Mrs. Cecilia Ibru, sacked Managing Director of Oceanic Bank and wife of the patriarch of the Ibru’s clan, Olorogun Michael Ibru.
Details emerging in the wake of the sudden appearance of the erstwhile Managing Director of [...]

SEC: MUSCLE FLEXING BETWEEN DG, AL-FAKI AND BOARD CHAIRMAN, SENATOR UDOMA

Some of the suggestions and recommendations contained in the report of the Technical Committee on the Review of Capital Market Structures set up
by the Securities and Exchange Commission are believed to be generating
some form of anxiety at the Abuja headquarters of the SEC.
The Committee which was set up, fourth quarter 2008, …
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March 09 Edition

Fortune&Class Weekly is a business magazine published every week in Nigeria, Africa.
The Volume 2, 5th edition of Fortune&Class Weekly is this.
Click http://fortuneandclassmag.com/?p=37 for more.

GOVERNOR/ASSEMBLY FACE-OFF: How Tinubu Pressured Fashola To Sign Appropriation Bill

“I understand that the Speaker who was also ready to flex his muscle reported the Governor’s conduct at the aborted signing ceremony to Asiwaju with a threat to take on the Governor.”

UNSPENT FUND: FED. MINISTRIES ON LAST MINUTE SPENDING SPREE TO BEAT YAR’ADUA’s DEADLINE

Nigeria’s president, Umar Musa Yar’Adua may have placed excessive premium on the integrity of the federal ministries, government departmental and agencies to feel secured enough to inform the national assembly of part financing its budget deficit in 2009 through unspent funds taken back from federal ministries, departments and agencies.
FORTUNE&CLASS Weekly discreet investigations in Abuja, have, [...]

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 [...]

DEMAND FOR NEW CARS HITS THE HIGH…INTENDING CAR OWNERS NOW ON WAITING LIST

Nigerians now seem to prefer new cars to used ones a FORTUNE&CLASS Weekly survey has shown. A snap survey conducted by the magazine’s correspondents across new cars dealers shows that there is a strong demand for new cars, especially, the Japanese and Korean brands.

Most intending buyers are now placed on waiting list. FORTUNE&CLASS correspondents [...]

ADENUGA’S EXPATRIATE DIRECTOR RESIGNS FOR FEAR OF NIGER DELTA MILITANTS

Mr. Pandanam, an Indian expatriate who holds a high ranking office in Dr. Mike Adenuga (Jnr) Equitorial Trust Bank (ETB) was not intended on leaving Nigeria in a hurry. The Indian, who, until he left Nigeria in a hurry, was the bank’s Regional Services Director, decided to bid farewell to his job at ETB [...]

IN THE SQUALOR OF THE RULE OF SILENCE

Last week, I confirmed an appointment to meet with a United States of America based journalist and researcher. He told me on phone that he was in Nigeria to research and evaluate the country’s financial sector with a view to submitting a report that will form the basis of Nigeria’s financial sector country report to [...]