Nigerian Bank wins suit against UK court over Akingbola’s money freeze

Intercontinental Bank Plc, a Nigerian lender bailed out by the country’s central bank, won a U.K. court order freezing 83 million pounds ($127 million) in assets held by its former chief executive officer.

London is set for ‘Nigeria at 50 Merit Award’ ceremony on June 29, 2010

The stage is now set for the 2nd edition of the Nigeria Arise Awards and celebrations which will take place in London.

Leading government executives drawn from the Presidency, Governors forums, Ministers, Members of the Senate and National Assembly and leading Industrialists have already signalled their intention to fly tpo the United Kingdom for the Celebration which is actually dedicated to the nation’s Golden Jubilee.

Nigeria’s oil supply to US assumes a higher level as she out-stages Saudi Arabia.

While the consumption of petroleum-based products in the United States (U.S.) is flat, Nigeria’s ranking on the international oil supply chart to the U.S. has grown.

Al-Fayed sells London icon store, Harrods to another Arab family for £1.5bn

Harrods, the world famous department store, has been sold for more than £1.5bn to the Qatari royal family, Times Online can confirm.

Mohamed al-Fayed, the Egyptian owner of the London landmark, has decided to retire and will hand over the reins to Qatar Holding.

Bank announces the death of cheque guaranteer cards

One of the biggest banks has sounded the death knell for the cheque guarantee card, with rivals set to follow its lead.
Santander, owner of Abbey and Alliance & Leicester, said yesterday that all of its new debit cards will not carry the popular ‘guarantee’.
Rival banks will do the same in the coming months, leaving small [...]

Bank notes celebrating Queens 50th anniversary go on exhibition.

The Bank of England is celebrating the 50th anniversary of the Queen’s appearance on the Bank notes. An exhibition had been organised to showcase many landmark notes in which Queen Elizabeth had appeared.

CBN moves against banks’ hidden charges

Sanusi Lamido Sanusi, governor, Central Bank of Nigeria (CBN) on Monday directed all the twenty-four banks to disclose fully all rates and charges associated with their products and services with a view to stemming all forms of sharp practices in the financial sector of the nation’s economy.

National Central Switch: Checkmate for ATM fruadsters

The rising incidence of frauds perpetrated through Automatic Teller Machines (ATM) will soon abate following the completion of the National Central Switch (NCS) for electronic payment in the country.
The NCS has a special security feature that can block usage of payment (ATM)  card  in different cities across the country within short time interval. When  ATM [...]

Erring Nigeria Commercial Banks! Foreign Investors To The Rescue?

A major scrambling for the purchase of all the stakes in the troubled Nigeria Banks may have started following reports that the Federal Government had commenced a major search for investors to purchase the erring Banks.

Sanusi urged to rescue wonder banks’ victims

The new Central Bank Governor, Malam Sanusi Lamido Sanusi has been urged to wade into the plight of thousands of Nigerians home and abroad who fell victims to the scams of the so called ‘wonder Banks’ and safe them from further (the victims) agonies.