Hints and tips:
...KPMG, the global accountancy firm enlisted by the Nigerian regulator to carry out the investigation, was scathing about the way Mr Tanoh had agreed a bonus and salary increase in 2012 with the former ETI...
...“ETI has a strategic partnership with QNB. This takes it further. It enhances Ecobank’s reach both in the North African region and the Middle East....
...South Africa’s Public Investment Corporation, PIC, was hitherto the bank’s leading shareholder but its capital is restricted by a 20 per cent cap....
...Alongside South Africa’s Public Investment Corporation, which also holds a near 20 per cent stake, and with smaller institutional shareholders, Nedbank could now potentially form a blocking majority....
...Mr Tanoh, a former vice-president of the International Finance Corporation, has been under investigation by Nigeria’s capital markets regulator since the bank’s executive director in charge of risk and finance...
...The PIC has consistently denied it has any ambition to take over ETI, which was launched in the 1980s by business people from across west Africa....
...These include South Africa’s Public Investment Corporation, Ghana’s state pension fund and the International Finance Corporation, the World Bank’s private sector lending arm....
...The International Finance Corporation, the World Bank’s private sector lending arm, has toughened rules for staff engagement with client companies after controversy over the way two executives jumped to...
...The latter has since repaid debts owed to ETI, and reached agreement on scheduled repayment of outstanding debts to Amcon, the asset management corporation of Nigeria set up to absorb non performing loans...
...Mr Lawson has since repaid debts to ETI, and reached agreement on scheduled repayment of outstanding debts to Amcon, the asset management corporation of Nigeria set up to absorb non-performing loans following...
...He is under fire from some shareholders, including South Africa’s Public Investment Corporation, the largest, for allegedly failing to keep the ETI board adequately informed about an April letter from the...
...A family real estate company, Agbara Estates, for which Mr Lawson is chairman also has longstanding debts of N1.6bn to ETI’s Nigerian subsidiary, they said....
...ETI is listed in Lagos but as a bank headquartered in Togo is regulated by the West African Banking Commission out of Abidjan....
...In an August 6 letter to the Nigerian Securities and Exchange Commission (SEC) copied to bank directors and seen by the Financial Times, Laurence do Rego, Ecobank Transnational’s (ETI) executive director...
...The Foreign Sales Corporation (FSC) scheme and its successor, the “extra-territorial income” (ETI) provision, refunded taxes paid by US corporations on earnings from exports....
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