Managers of Wealth Africa

Banknotes company manager guilty of bribing Nigerian official

He was acquitted of two other counts in the case brought by the Serious Fraud Office.

Officials Arrested At 3 Nigerian Banks In Financial Crimes Investigation

The three banking officials include Nnamdi Okonkwo, managing director of Nigeria’s Fidelity Bank. He was questioned and released Friday.

Ecobank urges court to appoint liquidator for Honeywell

Olanipekun had claimed that the Bankers Committee had ruled that Honeywell was not indebted to Ecobank.

Access Bank MD Herbert Wigwe arrested over NIMASA, Diezani’s secret $5m fund

The source disclosed that the Access Bank MD received $5 million that was routed through Zenith Bank

Zimbabwe backs down on plan to force ownership of foreign firms

Mbete said he would "play things by ear" to see if Harare follows through with its new stance on the policy.

Money laundering: Fear of unknown grips banks, as EFCC shifts to banking sector

The most recent among the bank Chiefs that had been arrested by the EFCC was Herbert Wigwe, Access Bank MD, who has been held for money laundering, since the bank’s corporate head office was raided on Friday.

African Bank Probe Said To Have Found Directors Failed in Duties

The final report into South Africa’s first bank collapse in 12 years found directors at African Bank Investments Ltd. failed in their duties to manage and protect the Johannesburg-based lender before its downfall almost two years ago

Premium Times to release names of 100 Nigerians, companies found in #PanamaPapers

Mr. Olorunyomi said the release of the names will not end the paper’s reporting on a matter that has shocked the world and has intensified campaign for global action against notorious tax havens helping corrupt individuals to hide ill-gotten assets

Zimbabwe: Nssa to Probe Investment Deals

All these initiatives have started running after NSSA has reached a retrenchment agreement with five former senior managers who were axed last year

Report of the Commissioner’s investigation into African Bank Limited

The manner in which the investigation was conducted is outlined in the Commissioner’s report.

Nigeria: Court Seals Research Institute, Business Premises Over Tax Matters

He said as soon as the courts pronounce a sealing order, it is executed promptly, adding that the board on its own does not seal defaulters offices or premises.

Hatstone News

This newsletter brings news from our three offices in Jersey, Panama and South Africa and announces our new office.

Draft regulations for the implementation of Country-by-Country reporting published in South Africa by Arnaaz Camay

The OECD’s recommendation under Action Plan 13 was that all countries should adopt a standardised approach to transfer pricing documentation which follows a three-tiered structure consisting of a master file, a local file, and country-by-country (&l

The evolution of the “foreign partnership” definition in South Africa by Refilwe Mashale

In South Africa, the determination of whether a foreign entity is a company or partnership is an important one, as it subsequently determines the applicable tax treatment of the foreign entity.

Keroche accuses EABL of frustrating fair competition

The beer company says the scheme came about after it launched a new plant in Naivasha in the presence of industrialization CS Adan Mohammed.

SA losing billions each year to cyber-crime

A typical attack on South African assets averages 9 Giga-bytes-per-second and lasts 17 minutes.

Africa: Global Firm Explores Mining, Agriculture Investments in Nigeria, Kenya, Others

As part of the expansion plan, the company has also begun the legal registration process to open a representative office in Dubai

International law firm Reports on Middle East Investment into Africa

The report explores how the Middle East is becoming a hub for channelling investment into Africa, as its economies continue to develop.

Internet-based nature of MMM scheme ‘makes it tricky to investigate’

Administrators of the scheme, spearheaded by convicted Russian fraudster Sergey Mavrodi, said in a Facebook post at the weekend that it would be closed down after it failed to pay out promised returns of 100% a month.

President Praises CBK Move Targeting Managers of Collapsed Banks

Speaking Sunday during a fundraiser at Thika's ACK St Andrews Cathedral, Mr Kenyatta warned unscrupulous bank managers who use depositor's funds for selfish gains.

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