The economic recession currently rocking the country has increased the volume of fraud cases in the banking industry, with the attendant loss of money, Punchng’s IFEANYI ONUBA writes The banking sector recorded 31,736 fraud cases involving the sum of ₦16.5bn between January 2014 and December 2016, figures obtained by our correspondent from the Central Bank […]
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Spanish prosecutors have asked that Cameroonian football great Samuel Eto’o be handed a 10-year jail sentence and pay a 14.3-million-euro ($15 million) fine for alleged tax fraud, a court filing revealed Thursday. They allege that Eto’o — now at Antalyaspor in Turkey — set up front companies to avoid paying taxes from 2006 to 2009, […]
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Committee of the House of Representatives has requested for the presence of the Controller-General of the Nigeria Customs Service, Col. Hameed Ali (retd.), over an alleged N250m insurance fraud committed by the NCS in connivance with some insurance brokers. The committee, which is chaired by Mr. Adekunle Akinlade, said there were “fraudulent practices” perpetrated by insurance […]
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Securities and Exchange Commission (SEC) has launched investigation into alleged multi-million Naira shares fraud involving a stockbroking firm, WT Securities Limited, in another high-profile case after the apex capital market regulator indicted and banned two BGL companies from the capital market. In a preliminary indictment charge, SEC, at the weekend, alleged that its preliminary investigation […]
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Latest audit report by the Nigeria Extractive Industries and Transparency Initiative has accused the Nigerian National Petroleum Corporation of not remitting $3.8bn and N358.3bn to the Federation in 2013. According to Punchng, The Chairman of NEITI, Kayode Fayemi, disclosed this on Monday while presenting the 2013 audit reports of the agency in Abuja. Citing the […]
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[su_dropcap]Z[/su_dropcap]enith Bank Plc, in its group annual report and financial statement, recorded a loss of N200,523,436 to fraud and forgeries in 2015. The Corporate Governance Report of the bank, subtitled under analysis of fraud and forgeries returns, showed that five fraud cases perpetrated by the bank’s staff members resulted in a N155,727,899 loss. This accounted […]
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A Federal High Court in Lagos has ordered an ex-Niger Delta militant leader, Government Ekpemupolo, popularly known as Tompolo, to unconditionally appear before it on Thursday to answer 40 counts of alleged N13bn fraud levelled against him by the Economic and Financial Crimes Commission. Tompolo had been charged on Tuesday with an amended 40 counts […]
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THE Economic and Financial Crimes Commission has arraigned a former Chairman of Demsa Local Government Area of Adamawa State, Mr. Felix Tangwami, for a N982m alleged fraud. The Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, said in a statement on Wednesday that that the former council boss was arraigned before Justice […]
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Some former and serving Peoples Democratic Party (PDP) members of the House of Representatives may have to refund about N600million allegedly shared to them under the last dispensation for the purpose of seeking re-election, The Nation report. Several bigwigs of the party who allegedly partook of the slush funds are also expected to return to […]
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