03/16/2017
Viewpoint: International Banks Targeted for Prosecution in South Africa
Scandal involving currency fixing and lending practices contributes to uncertainties amid recession and worsening economic crises
Legal
03/15/2017
ICPC Arraigns Ex-banker For N78.5m Fraud
The alleged offence is punishable under Section 15 (3) of the same Act. Counsel to ICPC
03/14/2017
What to expect from the hearings on financial services
Chairman Yunus Carrim acknowledges progress since 1994, but calls for ‘more effective transformation consistent with the country’s needs"
03/12/2017
Bribery scandal: Ajumogobia was a high networth customer, bank official tells court
During further cross-examination by Ajumogobia’s counsel, Olawale Akoni, the witness told the court that the maximum amount expected to be paid into a dollar account per day was $10, 000
03/10/2017
Court orders Interfin to pay Shah US$26m
Closed Interfin Bank Ltd will have to fork out US$26 million to controversial businessman Jayesh Shah’s Al Shams Global BVI Ltd.
03/08/2017
Details emerge in SME Bank scandal
Within two months, withdrawals amounting to some N$69,8 million were made in the period between October 13 and November 8, 2016.
03/07/2017
Daughter of GTBank Founder sues Bank over "Manipulation" of Her Late Dad’s Shares
The issues regarding the distribution of his GTBank’s shares have been the subject of various discussions between the executors of his estates.
03/07/2017
Jersey and Kenya sign agreement to return stolen assets
The signing of this agreement conveys a powerful message that both Jersey and Kenya are committed to combatting issues of historic corruption and financial crime.
03/06/2017
Malabu Oil Scandal: $800m Transferred To Nigerian Banks Through JP Morgan In London
Italian prosecutor Fabio de Pasquale, who has led a team investigating the scandalous oil deal for over two years, discovered that the transfer was made in two separate payments of $400m.
03/03/2017
South Africa's Standard Bank seeks clarification on FX allegations
The Commission has recommended fines amounting to 10 percent of the banks' South African revenues in a scandal that has piled political pressure on the four South African banks accused of being involved, which have about 90 percent of the national ba
03/03/2017
Foreigners laundering gold money - Gold Buyers Association alleges
Mr Autel also alleged that the conduct of these foreigners, who are mostly from Asia
03/01/2017
Latham & Watkins launches new resource for investors in africa
New comparative guide helps investors navigate the legal systems when investing in some of Africa’s major economies.
02/28/2017
Eversheds Sutherland seal the deal categories at M&A Advisor’s EMEA Corporate Development Awards
The team was also presented with the Founders Award in recognition of its deep cross-border transactional practice.
02/28/2017
Conyers Awarded Best Offshore Law Firm – Client Services
Winners of the awards are selected by a panel of judges from the MENA fund management industry.
02/23/2017
Whistle-blower exposes N8.4 billion fake account
The discovered bank account has no signatories making it more suspicious.
02/23/2017
Kenya's most wanted banking fraudsters revealed
The Banking Fraud Investigations Unit says Otieno is extremely brilliant.
02/22/2017
Africa’s ‘Youngest Billionaire’ Loses Asset Ruling in Divorce
He found that the 35-year-old owned 100 percent of Mara Group Holdings Ltd. and other corporate entities.
02/22/2017
Hybrid debt instruments – what you need to know
The provisions relating to “hybrid debt instruments” as contained in section 8F of the Act seek to identify and provide for specific tax treatment of certain debt instruments that contain equity-like features.
02/17/2017
The worst-case scenario for South Africa’s colluding banks
The case has now been handed to the Competition Tribunal for prosecution
02/17/2017
Two SA Banks Commits To Cooperate In Collusion Probe
Both Absa and Investec have committed to working with authorities in their investigation into alleged price fixing.