“You risk losing your savings,” NDIC boss cautions Nigerians who adopt cryptocurrencies

Umaru Ibrahim, the managing director, Nigeria Deposit Insurance Corporation on Thursday called on Nigerians to exercise caution in the adoption of cryptocurrencies as their preferred mode of financial transactions. He warned that while various forms of digital currencies currently in operation have their positive and negative attributes, those who patronize them risk losing their savings. […]

Sovereign Wealth Fund contributors to reap dividends from 2018

Uche Orji, the Managing Director, Nigeria Sovereign Investment Authority (NSIA)

Uche Orji, the Managing Director, Nigeria Sovereign Investment Authority (NSIA), said Monday that contributors to the Sovereign Wealth Fund will be eligible to dividends from 2018. The MD disclosed this in Abuja at the Minister of Information and Culture, Lai Mohammed’s working visit to NSIA. “We are not allowed to pay dividends until after 5 […]

Deutsche Bank pushes wealth management hard in Saudis’ direction

Germany Deutsche Bank is said to be pushing hard towards the Middle East, targeting wealthy individuals in the Kingdom of Saudi Arabia, in wealth management, as it works to regain grounds following asset losses suffered last year over concerns about its capital levels, Bloomberg has reported. Some of the bank’s clients had left in the […]

Rich people dodge far more tax than previously thought, economists find

Wealthy people are dodging even more tax than previously thought, according to new research. The wealthiest 0.01 per cent evaded 30 per cent of their personal taxes on average, compared to just 3 per cent in the population as a whole, economists Annette Alstadsæter, Niels Johannesen, and Gabriel Zucman found. They studied data from the […]

Super-rich evade on average nearly third of their due tax

The richest 0.01% of households, involving those with more than £31m assets, evade paying 30% of their taxes on average, according to an academic study of tax evasion based on data revealed in the Panama Papers and the leaks concerning the HSBC Swiss private bank. Economists, who matched people named in the leaks with public […]

Sir Stelios Haji-Ioannou pledges to give half of £2bn fortune to charity

Natalie Clifford, Prince Albert II of Monaco and Sir Stelios Haji-Ioannou

The easyJet founder, Sir Stelios Haji-Ioannou, has promised to give more than half of his £2bn fortune to charity after he was “inspired” by the world’s richest man, Microsoft billionaire and philanthropist Bill Gates. Haji-Ioannou said he had signed up to the Giving Pledge, an organisation founded by Gates and fellow billionaire Warren Buffett, that […]

Ford’s fired CEO Mark Fields is in line for big payday

Mark Fields, the CEO of Ford who was ousted as the company’s stock price slid near 40% of its value during his tenure, could see a payout of $57.5 million, according to Bloomberg. The news service reported that Fields, who was replaced this week by former Steelcase CEO Jim Hackett, will receive unvested stock awards […]

Dealmakers aplenty, SoftBank’s Son looks for wonks

Deep Nishar spends more time roaming university hallways than he does corporate boardrooms. A former electrical engineer who helped develop Google’s mobile phone business and grow LinkedIn’s users from 30 million to half a billion, Nishar is exactly the sort of industry specialist that SoftBank Group Corp CEO Masayoshi Son wants for his new $100 […]