Managers of Wealth Africa

Allegations of fraud, stealing: Access Bank, Nigeria Police may settle out of court

The defendants are charged with 21-count bordering on stealing, advance fee fraud, forgery of bill of lading, among others.

Former top judge banned from public office for ten years

The case sets a precedent in Africa where high ranking government officials are treated with kid gloves when it comes to enforcing laws, especially on corruption.

Africa's Biggest Fund Manager Is Said to Court Banker for CEO

South Africa’s PIC is said to seek Kennedy Bungane as head

It’s criminal for states not to remit retirement fund – NLC

Wabba said that states had two retirement plan options but noted that it was a criminal offence not to credit workers’ retirement benefit account.

Alleged fraud : Etiebet wants Access, Diamond Bank merger nullified

He accused the bank of hiding the financial fraud cases it has from the regulators, the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).

Vodacom Tanzania boss arrested over alleged fraudulent use of facilities

In June 2018, two chief executives of mobile phone companies were charged with fraud as part of a crackdown against tax evasion.

KRA boss denies links to tiles firm, cites blackmail

Njiraini says suit is unfounded and malicious, terms it as a blackmail.

Victory for PT Ventures in ICC arbitration involving Africa’s richest woman

According to documents seen by ALB, Oi, which inherited its minority stake in Unitel in 2014, had claimed over USD 3 billion from the Angolan shareholders of Unitel.

Mauritius: insider dealing and market abuse - the limelight of the Bull Market

The amount recovered goes into a compensation fund to compensate investors who suffered a loss by the insider dealing

Retirement fund default regulations

In this edition we will discuss these new default regulations in more detail.

KENYA: New team set up to review law on dirty money

The team will draw membership from 30 institutions and departments, including the Capital Markets Authority, Kenya Bankers Association, Directorate of Criminal Investigations, Kenya Revenue Authority, Kenya Wildlife Service, the Immigration Department and

Nairobi’s Milimani courts top collection as Judiciary revenue climbs to Sh2bn

Instead, all court stations were directed to use cashless systems, mainly direct banking, M-Pesa and agency banking.

Angola Says It Recovers $3.35 Billion of Assets From Quantum

It included about $2.35 billion of financial assets held in U.K. and Mauritius banks, and $1 billion of real estate holdings in hotels, gold mines, farms and resorts in the country and abroad, it said.

Details of Zedcrest Capital MD's Case With EFCC Emerge

Due to data protection regulations, the bank’s checked with the EFCC to confirm the authenticity of the letter and found it to be a forged one.

Why High Court threw out law on interest rates law

Failure to amend the ambiguous section of the Act will mean a reversion to free-floating interest rates regime, where commercial banks set the cost of loans without reference to any law.

PwC Probe Uncovers $7.4B Steinhoff Accounting Fraud

PwC’s investigation summary noted that a single “senior management executive” led the scam

Pension Funds profiteer at expense of members’ benefit, says PFA

The complainant was also unhappy that the second respondent wanted to charge a termination penalty in the region of R307 851.

Why top bank officials may not go to jail over NYS fraud

The DPP had earlier last month said the DCI investigations had determined that the lenders — Standard Chartered Bank-Kenya, KCB, Equity Bank, Diamond Trust Bank (DTB) and Co-operative Bank — suspiciously transacted the amounts and neither did

Kenya court axes banking rates cap, suspends implementation for a year

In March 2018, the central bank said the cap had probably cut 2017's estimated economic growth rate by 0.4 percent because it throttled credit to small and medium businesses.

Zedcrest Capital gives update on EFCC case involving its MD

Consequently, the EFCC made efforts, last year, to contact Mr Edenya. On several occasions, officials from the anti-graft agency reached out to Zedcrest Capital (his previous employers) to assist with the investigation.

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