Yifan Wang. Shares of HSBC Holdings PLC and Standard Chartered PLC dropped in Asian trading Monday following media reports overnight that the two banks and others moved suspected illicit funds despite red flags about their origins.
Here is why you should pick up a copy of The Guardian on Wednesday. Find these stories and much more when you grab a copy of The Guardian on the newsstands on Wednesday.
For many developing counties, remittances from citizens working abroad provide a major source of the much-needed funds back home. And has Covid-19 continue on its destructive path on the world economy, this has added so much pressure on the diaspora remittances of Nigeria as well.
Dubai Police have arrested and seized over $40.9m (Dh150 million) in cash and over a dozen luxury cars in the arrest of Dubai based Nigerian Instagram celebrity Raymond Olounwa Abbas popularly known as Hushpuppi. He is accused of online fraud and money laundering.
The office of the Accountant-General of the Federation in Abuja is on fire. Emergency crews are working hard to put out the inferno. And it has been established that the fire started from the third floor and razed most parts of the building upwards including the floor where the Accountant-General’s office is situated.