MTN Alleges N22bn Fraud On Mobile Money Banking In One Month   MTN Communications Limited’s newly licensed Mobile Money Payment Service Bank Limited (MOMO PSB) has alleged a fraudulent loss of N22 billion in one month of operations. In a suit instituted by the MOMO bank against...

Court Acquits Ex-PPMC MD Haruna Momoh’s Wife – Ochuko Of N3bn Fraud   A Federal High Court in Abuja has discharged and acquitted Ochuko Momoh, wife of a former Managing Director of Pipelines and Products Marketing Company, Haruna Momoh, of a N3bn fraud Economic Confidential reports that...

SEC Initiates Measures To Tackle Fraud, Unclaimed Dividends   The Securities and Exchange Commission (SEC) is planning to provide capital market participants with unique identifiers in order to reduce fraud and the quantum of unclaimed dividends, a statement by the commission on Sunday said. The Director-General, SEC,...

Reps Probe Alleged Fraud Of W/Bank Funds For Assets Insurance   The House of Representatives has urged the Federal Ministry of Finance, Budget and National Planning, the National Insurance Commission and all ministries, departments and agencies of the Federal Government to ensure proper actuarial valuation and...

SEC, EFCC Partner On Capital Market Fraud   The Securities and Exchange Commission announced on Wednesday that it had engaged the staff of the Economic and Financial Crimes Commission on capital market training in a bid to tackle financial crimes in the market. SEC described the training,...

Banking Sector Lost N5bn To Fraud In Nine Months - NIBSS       The Nigeria Inter-Bank Settlement System Plc has said that more than N5bn was lost as a result of fraud in the banking sector between January and September 2020. It disclosed this in its NIBSS Insight...