Monday 18th January 2021
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Seven banks ordered to remit hidden funds to government

Godwin Emefiele

Justice Chuka Obiozor of the Federal High Court, Lagos on Wednesday, July 19, 2017 ordered seven commercial banks in the country to temporarily remit a total of $793,200,000 to the Federal Government (FG). The funds were allegedly hidden with the banks in contravention of the Federal Government’s policy on lodgment of funds into the Treasury Single Account (TSA). The judge ...

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Banks, UN seek to promote climate transparency in financial markets

Erik Solheim

Together with the UN Environment Finance Initiative (UNEP FI), 11 of the world’s leading banks announced on Tuesday, July 11, 2017 a commitment to develop analytical tools and indicators to strengthen their assessment and disclosure of climate-related risks and opportunities. Following the publication last month of the final recommendations by the Financial Stability Board’s (FSB) Task Force on Climate-Related Financial ...

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Banks, investors back sustainable finance under UNEP initiative

Michel Sapin

Nearly 20 leading global banks and investors, totaling $6.6 trillion in assets, on Monday, 30 January 2017 in Paris, France launched the Principles for Positive Impact Finance – a first-of-its-kind set of criteria for investments to be considered sustainable. “The Principles are a timely initiative from the finance sector. They demonstrate the willingness of financial institutions to go beyond current ...

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