Day: May 14, 2021

S&P: FBNH, FirstBank boards’ changes ensured stability

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S&P Global Ratings said changes to the boards of First Bank of Nigeria Limited and FBN Holdings (FBNH) Plc, recently directed by Central Bank of Nigeria (CBN), addressed the banking group’s corporate governance challenges and ensures the Nigerian banking sector’s financial stability. In a statement, it stated that its ratings on FBN and other Nigerian banks remain constrained by shortcomings in corporate governance and transparency, among other factors. The CBN recently replaced the entire boards of FBN and FBNH, and reinstated the former executive directors and CEO, Dr. Adesola Adeduntan.…

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Buhari’s son-in-law wanted over $65m fraud by ICPC

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Gimba Yau Kumo, son-in-law of President Muhammadu Buhari, has been declared wanted by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) for an alleged $65 million fraud. In a notice published on Thursday, Azuka Ogugua, spokesperson of the anti-graft commission, said Kumo is declared wanted alongside Tarry Rufus and Bola Ogunsola over alleged misappropriation and dispersion of national housing funds. Kumo, a former managing director of the Federal Mortgage Bank of Nigeria, married Fatima, the president’s daughter, in 2016 at Daura, Katsina state. The ICPC statement in the…

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NCC Chairman, Prof. Adeolu Akande’s undergraduate daughter commits suicide

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The Chairman of the Nigerian Communication Commission (NCC), Professor Adeolu Akande, has lost his daughter, Miss Feranmi Fasunle, who died at the age of 19. Miss Fasunle was a 200 student of Political Science at the Adekunle Ajasin University, Akungba Akoko, and she was said to have died on Thursday at the  Federal Medical Centre, Owo, Ondo State. According to a statement issued on Thursday by Professor Akande, the family will reach out to the authorities of the university for an investigation into the circumstances over her death while also…

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