Category Archives: BUSINESS
Inside Wema Bank’s Billion-Naira Betrayal: Staff and Hackers Orchestrate N8.5bn Digital Heist
A billion-naira fraud has detonated a fresh crisis in Nigeria’s banking sector. Three Wema Bank Plc employees—Samuel Ihechukwu Asiegbu, Fabian Chizaram Onyeimachi, and Kingsley Kelechi Ejim—along with four alleged accomplices, have been charged in a jaw-dropping N8.5 billion digital theft
N95m Fraud: Wema Bank, Moniepoint, Kuda, Other CEOs Risk Prison for Defying Court Orders
FG Drags Roosevelt Ogbonna’s Access Bank To Court Over Alleged Fraudulent Diversion Of N825 Million State Funds
Access Bank Plc and one of its employees are facing legal action. A four-count charge has been filed against them at the Federal High Court. The charges relate to the alleged diversion of N825.9 million in state funds into what
Court Remands Bank Manager, Nursing Mother, Three Others Over Alleged Premium Trust Bank Server Hack
The Federal High Court in Lagos has ordered the remand of five individuals—including a bank official and a nursing mother—in connection with an alleged cyber attack on the server of Premium Trust Bank. Arraigned before Justice Alexander Owoeye, the defendants—Matthew
Access Bank, Staff Face Money Laundering Charges Over Alleged Diversion Of N825.9 Million
Access Bank Plc and one of its employees are enmeshed in legal troubles after a four-count charge was filed against them at the Federal High Court over alleged diversion of N825.9 million in state funds into a fraudulent account. The
Wema Bank: 80 Years of Stagnant Survival in Nigerian Banking
Wema Bank, one of Nigeria’s oldest surviving banks, has existed since 1945—making it an octogenarian institution. Yet despite its longevity, the bank remains a paradox of persistence without prominence. While competitors like First Bank, Zenith, and GTBank evolved into financial
Union Bank’s Edu360 Initiative Fuels Future Stars at Greensprings Football Academy
Union Bank has again demonstrated its commitment to youth development and quality education by sponsoring the 11th edition of the Greensprings Football Academy. The five-day training camp, held from April 13 to April 17, 2025, at the School’s Lekki campus,
Fraudsters Hack Union Bank’s Core System, Siphon ₦9.3 Billion from Customers’ Accounts
In a shocking development that has rocked Nigeria’s financial sector, fraudsters have hacked Union Bank’s core banking system, siphoning a staggering ₦9.3 billion from customer accounts. The breach, which occurred on March 23, 2025, affected multiple accounts across 53 financial
Fidelity Bank Named “Nigeria’s Best Private Bank” at Euromoney Awards
Tier one bank, Fidelity Bank PLC, has been named “Nigeria’s Best Private Bank” at the prestigious Euromoney Awards 2025. The recognition was formally unveiled at the awards ceremony held recently at The Savoy in London. The Euromoney Awards for Excellence
Access Bank Records N1.69 Billion Fraud Loss in 2024, Faces N1.2 Billion in Regulatory Penalties
In a stunning revelation that underscores ongoing vulnerabilities in Nigeria’s banking sector, Access Bank Plc, one of the country’s foremost financial institutions, has disclosed that it lost a staggering N1.69 billion to fraud in 2024. The details emerged from the
