A full list of affected ratings is provided towards the end of this press release. Today's rating action follows Moody's downgrade of Nigeria's government bond ratings to B2, with a stable outlook, from B1, with stable outlook, on 7 November see press release: Moody's downgrades Nigeria's sovereign issuer ratings to B2 with a stable outlook; https:
The Economic and Financial Crimes Commission is alleging that the transactions, at least N billion in value, are suspicious in nature but that Zenith failed to report them as demanded by law. Amangbo was held to explain why his bank failed to document the withdrawals, allegedly done over a three-year period, as suspicious.
Mr Amangbo was first invited for questioning on August 23, sources said. But he was freed on administrative bail and asked to return on August 24 for further interrogation.
Our sources said the top banker was however not allowed to return home on Friday. The suspects considered to be at large include Fubara Similari, whom investigators identified as the director of finance and account at the Government House in Port Harcourt. The Government House cashier is also said to be on the run.
The governor said an Appeal Court judgement in prohibited the EFCC from prying into Rivers State coffers, a ruling he claimed had not been appealed. The agency said it was investigating alleged mismanagement of more than N22 billion by Governor Samuel Ortom in Benue, but had declined to comment on the specifics of action against Governor Udom Emmanuel in Akwa Ibom.
Mr Ortom said the action severely crippled economic activities in his state for the few days it was in force because it became impossible to pay state workers and pensioners.
He warned that a state grappling with serious security challenges that claimed over a thousand lives this year alone should not be targeted by anti-graft operatives.
But the EFCC alleged that Mr Ortom squandered billions of naira which the Nigerian government released to Benue to tackle the grievous humanitarian and security challenges caused by suspected herdsmen attacks.
The restrictions on Benue accounts were lifted within three days on August 9, and Akwa Ibom confirmed partial unfreezing of its accounts on the same day.FITC was established in as a non profit organisation limited by guarantee, based on the Company's Act of , in response to the recommendations of the Pius Okigbo Committee set-up by the Federal Government of Nigeria to review the Nigerian financial system.
ZENITH BANK PLC Directors' Report for the Year Ended December 31, 9. Shareholding analysis The shareholding pattern of the Bank as at 31 December, is as stated below.
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Prior to his appointment as the CFO of Zenith Bank Plc., he was the bankâ€™s Deputy CFO, a position he held since September Before then, he headed the Financial Reporting, Tax.