Nigeria: Alleged N76bn and $31.5m Fraud - Former Union Bank Chief Testifies On Arik Airline's Controversial Loan

Nigeria: Alleged N76bn and $31.5m Fraud - Former Union Bank Chief Testifies On Arik Airline's Controversial Loan

The former bank official's claims regarding the loans go to the heart of the principal charges in the case, which alleges that Union Bank fraudulently misrepresented Arik Air's loan value as N71 billion in 2011 to mislead AMCON and prompt an unwarranted loan sale.

Legal storm engulfs SunTrust Bank as EFCC targets top executives in $12m money laundering scandal

A cloud of uncertainty hangs over SunTrust Bank Nigeria Ltd. as its Managing Director, Halima Buba, finds herself at the center of a high-stakes legal drama. Once celebrated as a paragon of professionalism in Nigeria’s banking sector, Buba is now facing a crisis that could define — or dismantle — her career and legacy. On Tuesday, May 27, 2025, the Federal High Court in Abuja was expected to witness the arraignment of Buba and the bank’s Executi…

Alleged $12m Fraud: Court slates June 4 for arraignment of SunTrust Banks Chiefs

The Federal High Court in Abuja has fixed June 4 for the arraignment of Halima Buba, Managing Director/Chief Executive Officer (CEO) of SunTrust Bank Ltd, over alleged money laundering amounting to $12 million. Buba will be arraigned by the Economic and Financial Crimes Commission (EFCC), alongside Innocent Mbagwu, the banks Executive Director/Chief Compliance Officer, before []