Switzerland, currently in the process of restituting assets to several former autocratic countries, is working on a new law aimed at simplifying the process of freezing and unblocking such funds, the government said Wednesday. The law under construction would regulate “the administrative confiscation and restitution of dictator assets,” the government said in a statement. Bern [...]
Investment of the 1 billion dollar Sovereign Wealth Fund (SWF) will start in June, Mr Uche Orji, the Managing Director of the Nigeria Sovereign Investment Authority (NSIA), has sid. Orji, who disclosed his at a news conference on Monday in Abuja, said the board of directors, inaugurated seven months ago, had approved the investment allocation [...]
MADUABUCHI NMERIBEH/ Kano Gunmen, suspected to be Boko Haram terrorists have attacked banks and police formations in Daura, the hometown of General Muhammadu Buhari, in the Northwestern state of Katsina, where there has never been any incident of terrorism since 2009, when Boko Haram began its military campaign. Brigadier-General Illyasu Abbah, Commander of The 3 [...]
The Economic and Financial Crimes Commission, EFCC, Wednesday arraigned Dickson Ubi Effah and Ngozi Anthony before Justice Jude Okeke of the Federal Capital Territory High Court, Maitama ona four-count charge of theft and misappropriation of funds. The duo who were employees of Vanguard Media Limited are alleged to have stolen the sum of N2, 024,795 [...]
PAUL IYOGHOJIE The regional manager of a new generation bank at Kaduna Road Kaduna, northwest Nigeria, Mr. Ige Adegboye, 43, has been arrested by the operatives at the Force Criminal Investigation Department (FCID), Force Headquarters Annex, Lagos, for fraudulently withdrawing N43.7m from his employer’s account without authorization and allegedly converting same to his personal use. [...]
Bermuda, the Turks and Caicos and other British overseas territories with extensive financial centres have signed agreements to share tax information in what the British government hailed Thursday as a major victory in the battle against tax evasion. Anguilla, Bermuda, the British Virgin Islands, Montserrat and the Turks and Caicos Islands have agreed to “much [...]
First Bank of Nigeria Holdings Plc on Tuesday announced a profit before tax of N92.7 billion for the financial year ended Dec.31, 2012. In a press statement issued in Lagos, the company said the profit before tax represented a growth of 158.5 per cent compared to the N35.8 billion declared in the corresponding period of [...]
