According to reports, the Court of Appeal, Lagos Division, yesterday held that former Keystone Bank (former Bank PHB) Managing Director Francis Atuche must face trial for alleged N25.7b theft.
The court upheld the appeal filed by the Economic and Financial Crimes Commission (EFCC) against a Lagos High Court verdict which dismissed the charge.
Last June 22, Justice Lateef Lawal-Akapo ruled that he lacked jurisdiction to entertain the suit and that the prosecution’s case lacked merit.
He discharged Atuche of the theft charge along […]
Some Nigerian banks on Wednesday clarified their positions on the alleged suspension from the foreign exchange market transaction by the Central Bank of Nigeria (CBN) over alleged non-remittance of the NNPC dollar deposits.
The affected banks expressed their stance in statements and e-mails to customers on Wednesday in Lagos.
The banks include the FirstBank Ltd., Fidelity, Keystone and Heritage.
FirstBank in a statement, said that the referenced NNPC dollar accounts were fully disclosed to the CBN.
It said that accounts were being operated in […]