Tag: PwC
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![One year on; Receiver still pursuing UT, Capital cash [Audio]](https://citibusinessnews.com/wp-content/uploads/2018/04/Vish-Ashiagbor-2-1.jpeg)
One year on; Receiver still pursuing UT, Capital cash [Audio]
Interested parties to benefit from proceeds of the disposal of assets and liquidation of same of defunct UT and Capital banks may have to wait a little longer. This is because the Joint Receiver for the defunct UT and Capital banks, Pricewaterhouse Coopers has stressed that the processes, majority of which are legal, could take…
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Leaked UT, Capital bank report independent of investigations – PwC
The Joint Receivers of defunct UT and Capital banks, PricewaterhouseCoopers (PwC), has ruled out any impact of disclosures on questionable dealings by the former directors and shareholders, on its investigations. Documents sighted by Citi Business News have showed that the former shareholders of the two banks, engaged in related party transactions among other unapproved activities…
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Banking sector faces distortion over ¢2bn bond for UT, Capital banks’ debt
Government’s decision to absorb the liabilities of UT and Capital banks could weaken the financial industry if not managed properly. This is the warning from Economist, Dr. Ebo Turkson. According to him, the assurance of absorption of debts after a possible collapse could make private banks less competitive in giving value for money for customers.…
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GCB Bank absorbs 70% of UT, Capital banks’ staff
GCB Bank has absorbed about seventy (70) percent of the permanent staff of defunct UT and Capital Banks. It follows the completion of the full integration of the systems of the two banks. A statement on the issue and copied to Citi Business News said, “As a result of the integration, staff numbers have been…
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Creating 350,000 jobs will be tough unless – Economist
Economists have told Citi Business News that it will be tough for government to achieve its job creation agenda for 2018 if the country continues to rely on the oil sector. According to them, it will be prudent to invest and grow the real sector of the economy (comprising agriculture, industry, among others) to drive…
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Analysts criticize extension of fiscal stabilization levy
Tax analysts have criticized government for not scrapping the National Fiscal Stabilization Levy in the 2018 budget. They describe the continuous imposition of the tax as disappointing. For instance a Partner with Pricewaterhouse Coopers (PwC), Ayesha Bedwei believes the move rather punishes some compliant taxpayers. The National Fiscal Stabilisation Levy (NFSL), introduced in 2013, was…
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PwC asked to clarify jobs termination at UT, Capital banks
Some labour analysts are demanding clarity from Price Waterhouse Coopers (PwC) in the decision to terminate the contract of employees of defunct UT and Capital banks. They argue that the terms indicated in the termination letters served the employees of the two banks may be short of the labour law which protects the interest of…
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Contract of UT, Capital bank workers terminated
Pricewaterhouse Coopers (PwC) has commenced issuing letters to staff of former UT and Capital Banks. PwC is undertaking this exercise in its capacity as the receiver of the purchase and assumption agreement between GCB Bank and the two defunct banks. Information available to Citi Business News indicates that the letters are being served to all…
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Data and analytics to attract investments into African economies – PwC
A partner of PricewaterhouseCoopers, Femi Osinubi, has stressed the need for businesses across Africa to place much emphasis on data and analytics in order to attract more investments into their respective countries. He contends, though businesses have demonstrated the relevance of data to their business growth, their seeming inability to scrutinize the information for further…
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Official Liquidator releases list of validated DKM creditors
The Official Liquidator has disclosed that payments to creditors of DKM Microfinance are set to commence on Monday, October 17, 2016. A statement released by the Registrar General’s Department and copied to Citi Business News said, “There will be payment of dividends to unsecured creditors of DKM Diamond Microfinance Limited (hereinafter called ‘DKM’) whose claims…