banks

Trump govt. to divert $40m in aid to Venezuela's opposition

Trump sues banks to stop Congress probing his accounts

April 30, 2019 2:49 am

US President Donald Trump, along with his family and businesses, on Monday sued Deutsche Bank and Capital One in an attempt to stop them from complying with Congressional subpoenas issued as part of a probe into foreign political influence.

The subpoenas — which the Trumps described in their suit as “intrusive and overboard” — were issued to several banks by the Democratic-majority House’s intelligence and financial services committees, which are looking into the president’s finances as part of a larger probe into election meddling by Russia.

The lawsuit is the latest step in Trump’s fightback against the Democrats, and alleges …

Innoson sues GT Bank’s directors for contempt

April 25, 2019 8:13 pm

Innoson Nigeria Limited has filed a contempt action at the Federal High Court (FHC), Awka, Anambra State, against the managing director of Guaranty Trust Bank (GTB), Segun Agbaje, and two others, asking them to show why they should not be committed to prison.

The other two are chairman of the bank, Mrs. Osaretin Demuren, and the secretary, Erhi Obededuo.

In the contempt application filed on its behalf by Prof. McCarthy Mbadugha, Innoson urged the court to order the alleged contemnors to come and show cause why they should not be committed for contempt and sent to prison for their wilful

…

₦29b recovered from debtors of liquidated banks – NDIC

April 4, 2019 10:14 am

The Managing Director of Nigeria Deposit Insurance Corporation ( NDIC ), Umaru Ibrahim has said that, the corporation has so far recovered N29 billion from debtors of liquidated deposit money bank, microfinance banks and primary mortgage banks.

He said that NDIC insured limits of N500, 000 for depositors in deposit money banks, non-interest bank and primary mortgage banks and N200, 000 for depositors in microfinance banks currently covers 95 percent of depositors across the country, 96.8 million accounts and 97.63 percent of the entire accounts in the banking system.

Addressing the NDIC Special Day at the 40th Kaduna International Trade …

S&P affirms Access Bank’s ratings

March 28, 2019 10:02 pm

Following the merger between Access Bank Plc and Diamond Bank, one of the global rating agencies, Standard and Poor’s (S&P), Thursday announced that it has discontinued its ‘CCC+/C’ long- and short-term issuer credit ratings and its ‘ngBB/ngB’ Nigeria national scale ratings on Diamond Bank.

At the same time, it affirmed the ‘B/B’ long- and short-term issuer credit ratings and ‘ngA/ngA-1’ Nigeria national scale ratings on Access Bank and assigned the bank a stable outlook.

According to S&P, the affirmation of its ‘B/B’ ratings on Access Bank was based on its view that short-term acquisition risks were likely to be offset …

Central banks in ECOWAS meeting on single currency

February 22, 2019 1:33 am

Central banks of members of the Economic Community of West African States (ECOWAS) are meeting to take stock of the progress made so far on a single currency for the region by 2020.

The 53rd meeting of the Committee of Governors of Central Banks opened on Thursday in Dakar.

The meeting is organized by the Central Bank of West African States (BCEAO) and the West African Monetary Agency (AMAO).