Managers of Wealth Africa

Court Orders Zenith, UBA To Remit N2m, N13m Fraud Proceeds To Victim

A Federal High Court sitting in Lagos has directed the managements of the United Bank for Africa (UBA) and Zenith Bank to reverse the proceeds

Frenchman blocks Kenyans from unfrozen Sh2.3bn at Ecobank

High Court judge David Majanja on Monday ruled that no one should operate or access the accounts after Gregory Schmidt, the Frenchman, filed another petition

VBS-accused fails to have banking law set aside, court orders his sequestration

Sars seeks R61m in tax from politically connected Kabelo Matsepe.

Foreigner, three Kenyans fight over unfrozen Sh2.3 billion

The State agency alleged that the firm was involved in an intricate money laundering scheme to hide the source of illicit funds.

Banking crime: ATM bombings on the rise, fraudsters cash in on bigger loot

The other growing area targeted by criminals is card fraud, especially for card-not-present transactions.

DLA Piper expands its MENA capabilities with new IP Partner appointment

Global law firm DLA Piper has appointed Saba Al Sultani as a Partner in its Intellectual Property and Technology group, based in Dubai

Nigerian Investors Petitions Kenya Courts to Release Funds Held in Several Bank Accounts

2,000 Nigerian investors demanding the release of Ksh 1.44 billion ($1.8million) held by Safaricom and four other banks in Kenya.

Sekunjalo’s Nedbank accounts remain open as court reserves judgment

That judgment also ordered that Nedbank retain the terms and conditions on which these accounts were operating prior to the date of their closure.

Kenyan authorities drop money laundering cases against three Nigerian companies

In April, the ARA applied to a high court to freeze KSh 5.6 billion in six accounts belonging to these companies.

Union Bank Reacts To Alleged N1.6 Billion Fraud

“A large portion of the published reports are factually inaccurate and patently false; therefore, Union Bank seeks to make the following categorical clarifications: Union Bank was not defrauded by any syndicate

Nicola Sharp, Of Financial Crime Specialists Rahman Ravelli, Explains The Message The $21 Million Fine Imposed On Nedbank

The investigation, which began in 2019, found that Nedbank failed to keep accurate records or adopt an appropriate risk-based approach.

Judge slams bank in South Africa over ‘copy and paste’ job

The application for default judgment was also served on them by placing it in their post box.

Court orders Sonny Odogwu’s estate to pay N26 billion to Access Bank

he judge invalidated a purported consent judgment in which parties in the suit agreed on the payment of N12 billion as full and final payment.

Ruling highlights evidence disclosure duties in South Africa

EY was willing to withdraw from the project to allow Transnet to re-tender, but Transnet rejected this option and asked EY to prepare a revised work plan.

Bank seeks interpretation of S’Court verdict on bank guarantee

It followed a suit by OAN at the Federal High Court in 2006.

Dissilio Investments (Pty) Ltd v Nedbank Limited: What does this mean for Breakage Costs and Early Repayment Penalties?

The judgment was given on specific facts and does not set out general principles of law which will be applicable to all banking relationships with customers.

Massive visa fraud uncovered in South Africa: minister

This only pushed the department to dig deeper, he said.

Judiciary to link 67 courts to national fibre optic hub

The CJ added that the Judiciary has since embraced e-government and is now banking on technology to facilitate the provision of e-justice and improve the efficiency of its administrative processes.

Hogan Lovells advises Persistent in $10M equity round to grow climate venture building in Africa

This is Persistent’s third capital raise since its founding.

More trouble for Flutterwave after Kenyan Court freezes fintech’s bank accounts

The ARA believes that the accounts may have been used as conduits for money laundering in the guise of providing merchant services.

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