, and Cotllion Trust Company Limited.
The regulators involved in the Polaris Bank transaction – including CBN, AMCON, and Corporate Affairs Commission – appear unable to explain how they allowed partial disclosure of the ownership of the bank, in violation of the law. The bank said, “Clotaire Investment Limited has one shareholder, Zagamon Limited, who owns 100% of the shares. The shares of Zagamon Limited are held by Lumbro Corporate Services Limited in trust for Zalane Limited , Montane Limited and The Galtstar Trust , who are nominee shareholders used as vehicles by Standard Bank Trust Company Ltd as trustees for the settlers.
Mr Emuwa, 59, is a former chief executive of Nigeria’s Union Bank and is currently a director of Tangerine Financial Limited, a UK-registered firm, alongside Mr Idiahi.Governance and transparency activists aware of our findings described the failure of the CAC to compel SCIL to act in compliance with the law – and also the due diligence failure of the CBN and AMCON – as a reflection of regulatory failures in Nigeria.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Former President Buhari’s Government Borrowed N6trillion From Central Bank In 2022 – Report | Sahara ReportersRecent data report from the Central Bank of Nigeria (CBN) has revealed that the Nigerian government under former President Muhammadu Buhari borrowed the sum of N6.07 trillion from the apex bank through Ways and Means Advances in 2022. The 2022 N6.07 trillion borrowed from the bank pushed the Nigerian government’s borrowing from the CBN from N17.46 trillion in December 2021 to N23.53 trillion in December 2022.
Source: SaharaReporters - 🏆 9. / 63 Read more »
Ebonyi governor orders freezing of state government bank accountsThe statement containing the governor’s order was made available to reporters on Tuesday.
Source: PremiumTimesng - 🏆 3. / 78 Read more »
Zenith Bank Named Africa’s Best Corporate Governance Financial ServicesFor the fourth consecutive year, Zenith Bank Plc has been named as the Best Corporate Governance ‘Financial Services’ Africa 2023 by the Ethical Boardroom.
Source: LeadershipNGA - 🏆 4. / 77 Read more »
Again, Zenith Bank wins corporate governance awardZenith Bank Plc has won the ‘Best Corporate Governance Financial Services’ in Africa award in the 2023 financial year.
Source: MobilePunch - 🏆 8. / 63 Read more »
Zenith Bank wins 'Best Corporate Governance Financial Services' in Africa award for the fourth consecutive timeThe award, which was published in the Spring 2023 edition of The Ethical Boardroom magazine, is in recognition of the bank’s adherence to global best practices and institutionalization of corporate governance
Source: PremiumTimesng - 🏆 3. / 78 Read more »
Kano police parade 93 suspected criminalsHe added that they would be charged in court shortly after the investigation for prosecution.
Source: MobilePunch - 🏆 8. / 63 Read more »