• 2 Nigerian Banks Close To Insolvency, Deficit – Analysts

    2 Nigerian Banks Close To Insolvency, Deficit – Analysts

    Two Nigerian Banks are close to being insolvent, while two others “will need a dilutive capital hike,” Jaap Meijer and Tarek Sleiman, analysts at Arqaam Capital, Dubai-based investment bank and brokerage told Bloomberg yesterday.

    According to the analysts in an e-mailed note, Capital ratios are set to worsen in the country’s banking system because of currency depreciation and souring loans. Calls to one of the banks were not immediately returned and the other did not reply to questions.

    The Central Bank of […]

  • 2 Nigerian facebook fraudsters nabbed in India

    2 Nigerian facebook fraudsters nabbed in India

    Two Nigerians have been arrested by a joint team of Delhi and Goa Police for cheating several people after befriending them on social networking sites.

    The suspects identified as Chukwuma Collins, 35, and Nicodemus Obinna, 27, used to befriend people on Facebook and then ask for money to send “necessary items” to their family members in UK.

    They were arrested on Friday, 30th September. They gave their Nigerian addresses as Ladipo Market in Lagos and Badagry Trade Fair Complex, Lagos.

    Police said that […]