Nigerian banks queried over illegal fixing of forex rates

The Nigeria Economic Summit Group (NESG) has queried the 22 commercial banks over it describes as illegal fixing (cap) of the interbank foreign exchange rate. Among other things the group complained that the cap on the interbank foreign exchange rate is impacting negatively on member companies and contravenes the Foreign Exchange Act of 2004. The… Read More Nigerian banks queried over illegal fixing of forex rates

Lagos court remands 3 over conspiracy to rob bank

A Lagos High Court in Ikeja yesterday remanded in prison custody three persons accused of conspiring to rob First Bank of Nigeria Plc. The accused persons are Offon Akpan, 25, Osanbie Sunday, 25 and Akeem Karim, 25. According to the charge, the accused persons conspired to rob the bank at Adeniran Ogunsanya Street, Surulere area… Read More Lagos court remands 3 over conspiracy to rob bank