Tag: Fidelity Bank plc

‘For Hoarding Cash During Yuletide,’ CBN Fines Zenith, First Bank, 7 Others N1.35Bn

Ganiyu Amodu

The Central Bank of Nigeria (CBN), has identified nine Deposits Money Banks (DMBs), as responsible for scarcity of cash in the country during the yuletide season. There was scarcity of cash during the yuletide season, thereby, making Nigerians go through harrowing experience before getting access to their money. Also, due to scarcity of cash, Point of Sales (POS) operators increased their charges by 100 percent. However, on Tuesday, the apex regulatory bank, identified and slammed a whooping N150million fine on each banks that hoarded cash and subjected Nigerians to suffering…

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Shell, AFC, GTBank, 6 Other Banks Drag Aiteo to Court Over $2bn Debts

ADESUPO OSOSANYA

The bickering between a group involving Shell, Africa Finance Corporation (AFC), and seven Nigerian bank, and Aiteo Eastern E&P Company Limited over $2 billion loan accessed by Aiteo has degenerated. A high court in England has ruled that Shell Plc, Africa Finance Corporation, and seven Nigerian banks have established their right to block Aiteo Eastern E&P Company Limited from taking legal action when a suit initiated by them against the oil firm has not been resolved. The verdict approving the “final anti-suit injunction” was delivered on April 1, according to…

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