Printer Friendly

EFCC to arraign sacked bank chiefs in Nigeria.

Global Banking News-26 August 2009-EFCC to arraign sacked bank chiefs in Nigeria(C)2009 ENPublishing -

Global Banking News - 26 August 2009(c)2005 - Electronic News Publishing -

Nigeria's Economic and Financial Crimes Commission (EFCC) chairman, Farida Waziri, has disclosed that detained bank executives would be arraigned soon.

Waziri had confirmed earlier that EFCC had arrested top executives of Intercontinental Bank. Some other executives of top banks have also been arrested, and their charged offences range from money laundering, advancing loans under fictitious conditions and conspiracy involving huge sums.

Waziri said the executives would be arraigned because 'it is within the law for every Nigerian to seek legal redress against perceived wrong but we want to counsel the Bench not to consider any frivolous interlocutory application from bank debtors at this particular point in time.'

[Editorial queries for this story should be sent to]

((Distributed via M2 Communications -
COPYRIGHT 2009 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:Aug 26, 2009
Previous Article:ING seeking to sell private bank units.
Next Article:HSBC favours corporate bonds over sovereign debt.

Related Articles
Credits to flow to small businesses: one of the biggest constraints faced by small and medium sized companies in Nigeria is the lack of access to...
Warning to Nigerian banks over 'dubious loans'.
Nigeria tackles advance fee fraud.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters