Africa Financial Services 

Magu: Pastor sues bank over N573 million claim

A Nigerian cleric, Emmanuel Omale, has filed a N5 billion suit against First City Monument Bank over the bank’s report to the Nigerian Financial Intelligence Unit of an alleged payment of N573 million into his account. Mr Omale is an associate of the suspended chairman of the Economic and Financial Crimes Commission, Ibrahim Magu. In a court document filed before the FCT High Court on Friday, by Mr Omale’s lawyer, Gordy Uche, accused the bank of negligently breaching the fiduciary duty of care in its banker-customer relationship with his client.…

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Financial Services Government 

No govt financial transactions will be done in secret – Buhari

President Muhammadu Buhari has assured that with the various reform agenda implemented by his administration, very soon, all government financial transactions will be done in the open. The President gave this assurance Tuesday in Kaduna at the Passing-Out Parade of Detective Inspector Course Five, of the Economic and Financial Crimes Commission (EFCC). “My resolve is to ensure that the reforms are deepened such that there will be no hiding place for corrupt persons and proceeds of corruption. My aim is to ensure that no government financial transaction is done in…

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