PM News Nigeria

Judge Orders FG To Pay Sanusi N50m Damages

•Sanusi Lamido Sanusi

Akin Kuponiyi Reprieve came the way of suspended Central Bank Governor, Sanusi Lamido Sanusi, Thursday, as a Federal High Court sitting in Lagos, southwest Nigeria, awarded N50 million damages in his favour against the Federal Government for breaching his fundamental human rights. The court presided over by Justice Ibrahim Buba also ordered the Federal Government […]

Banks Encourage Use Of e-Payment Platforms


Nigerians have been urged to embrace e-payment platforms as the best option for payments for business transactions. The e-payment platforms – Point of Sale (POS) and Instant Payment platforms have benefits of convenience, safety and receipt of instant value to enable people make payments for their transactions using any of their devises such as ATM […]

World Bank doubles lending to emerging economies

Staff members Studio shooting WHO

The World Bank plans to nearly double its annual lending to emerging economies like China and India as part of its effort to eliminate extreme poverty by 2030. The Bank announced that it would add $100 billion to its lending capacity for middle-income countries over the next 10 years. This will allow it to expand […]

Amangbo new CEO designate at Zenith Bank

zenith bank logo

Peter Olisamedua Amangbo, a long serving staff, has been appointed the new Chief Executive Officer (CEO) of Nigeria’s Zenith Bank, effective from 1 June. The electronics/electrical engineering graduate of the University of Benin will succeed Mr Godwin Emefiele, who has been confirmed by the Nigerian Senate as the governor of the Central Bank of Nigeria. […]

Libya’s Sovereign Wealth Fund sues Societe Generale

Libya’s sovereign wealth fund has sued French bank Societe Generale in a British court for $1.5 billion (1.1 billion euros) for allegedly channelling bribes to allies of the son of slain dictator Moamer Kadhafi, officials said on Monday. The Libyan Investment Authority is seeking compensation from the bank and from Walid Giahmi, an alleged associate […]

Nigeria, others lose $60bn to illicit financial flows – Mbeki

Thabo Mbeki

Former South African President, Thabo Mbeki, said in Abuja that African countries lose between 50 billion dollars and 60 billion dollars annually through illicit financial flows (IFF). He said this when presenting the Progress Report of the High-Level Panel on IFF at the ongoing 7th AU-ECA Conference of Ministers of Economy and Finance. Mbeki was […]

UBA Plc to pay N0.50k dividend

•Phillips Oduoza, UBA boss

The United Bank for Africa (UBA) has proposed a dividend of 50k to shareholders following the release of its audited account for 2013. The bank similarly paid 50k to shareholders in 2012. Athough the bank reported a 20.3 per cent growth in gross earnings, from N220 billion in 2012 to N264.7 billion for the financial […]

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