A cartoonist in Nigeria's Vanguard newspaper has little sympathy for bank debtors. The Economic and Financial Crimes Commission is telling them: "You keep shouting Human Rights? Human Rights!! What do you think the depositors should be shouting?"
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Nigerian Bank Scandal Moves to Courts
Nigerian newspapers continue to report extensively on action taken by the Economic and Financial Crimes Commission after the Central Bank of Nigeria gave five banks a U.S. $2.5 billion bailout and replaced their directors.
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Nigeria: Bank Chiefs Arraigned, Face 131 Charges
This Day, 1 September 2009
At last, four of the five bank chiefs sacked three weeks ago by Central Bank of Nigeria (CBN) Governor Sanusi Lamido Sanusi over the huge non-performing loans of their banks have… Read more »
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Nigeria: Anti-Corruption Body to Prosecute Bank Chiefs
This Day, 31 August 2009
All is set for the arraignment of the 16 bank chiefs and 68 loan defaulters at present in the Economic and Financial Crimes Commission (EFCC)'s custody, as Attorney-General of the… Read more »
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Nigeria: Anti-Graft Body Recovers Outstanding Debts
This Day, 28 August 2009
The Economic and Financial Crimes Commission (EFCC)'s onslaught against troubled bank chiefs and debtors may have yielded bountifully. Read more »
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Nigeria: Workers Reject Foreign Takeover of Banks
Leadership, 2 September 2009
Workers in the nation's banking and insurance sectors have kicked against plans by the Central Bank of Nigeria to sell the five "troubled banks" to foreign investors. Read more »
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Nigeria: Fired Bank Chiefs to Face Charges
This Day, 30 August 2009
The sacked Managing Directors of five banks affected by the new reforms by the Central Bank of Nigeria (CBN), their executive directors and managing directors of some of their… Read more »
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Nigeria: Court Orders Bank Directors Freed
This Day, 28 August 2009
A Lagos High Court sitting at the Tafawa Balewa Square has ordered the Economic and Financial Crimes Comm-ission (EFCC) to release the nine non-executive directors of… Read more »
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Nigeria: Central Bank Heads to Europe With New Bank Chiefs
Leadership, 24 August 2009
Plans by the Central bank of Nigeria (CBN) to embark on a road show to Europe with the newly appointed banks' chiefs, who replaced the chief executives who were sacked penultimate… Read more »
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Nigeria: Central Bank Takes Bold Action
TradeInvest, 24 August 2009
Since the collapse or near collapse of many of the world’s foremost financial institutions last year, there has been much talk about the health of Nigeria’s banking… Read more »
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Nigeria: Global Financial Flu Finally Catches Up With Africa
Business Daily, 24 August 2009
Nigerian financial institutions are in the grip of their own banking crisis. And if you deposit your hard earned money in a bank rather than under your mattress, then you need to… Read more »
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Nigeria: Bank Chiefs to Remain in Custody
Vanguard, 21 August 2009
The drama and war of words over the sack of five banks' boards and managing directors; and the subsequent publication of a list of debtors by the Central Bank of Nigeria, CBN,… Read more »
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Nigeria: Wanted Sacked Bank Chief Flees Abroad
Daily Trust, 21 August 2009
One of the sacked chief executives of the five bailed-out banks has fled abroad, in spite of earlier claims by the Economic and Financial Crimes Commission (EFCC) that there was no… Read more »
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Nigeria: Anti-Graft Unit Recovers More Bank Debt
This Day, 29 August 2009
The Economic and Financial Crimes Commission yesterday recovered an additional N19 billion from loan defaulters of the five troubled banks it recently bailed out. Read more »
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Nigeria: Ant-Corruption Body Collaborates With Interpol To Arrest Bank Chief
Daily Trust, 28 August 2009
In a bid to get the ousted Chief Executive Officer of Intercontinental Bank Erastus Akingbola the Economic Financial Crimes Commission (EFCC) said in Lagos yesterday that it had… Read more »
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Nigeria: Anti-Corruption Officials to Arrest Bank Debtors
Vanguard, 25 August 2009
The Economic and Financial Crimes Commission, EFCC, led by Farida Waziri, will today storm Lagos with 100 operatives and two Mobile Police units to arrest all loan defaulters who… Read more »
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Nigeria: EFCC Moves to Arrest Bank Debtors
Leadership, 24 August 2009
The Economic and Financial Crimes Commission has moved to arrest debtors of the five troubled banks who are yet to meet its one-week ultimatum. Read more »
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Nigeria: Former Bank Chief Surrenders to Anti-Corruption Body
This Day, 27 August 2009
Former Managing Director and Chief Executive Officer of Oceanic International Bank Plc, Mrs Cecilia Ibru, yesterday finally submitted herself to the Economic and Financial Crimes… Read more »
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Nigeria: More Bank Chiefs Arrested Over Alleged 'Shady Deals'
This Day, 26 August 2009
The Economic and Financial Crimes Commission (EFCC) has arrested the six non-executive directors of Intercontinental Bank Plc including its chairman, Mr. Raymond Obieri. Read more »
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Nigeria: Court Orders Release of Two Bank Chiefs
Vanguard, 25 August 2009
For two weeks running, the dust raised in the nation's banking sector refused to settle with events happening in quick succession. Read more »
