Nigeria: Recapitalisation and Threat to Bankers' Jobs

30 December 2011
analysis

Lagos — Within the last five months, there has been uneasy calm in the nation's banking sector as banks manoeuvre in their bid to escape the Central Bank of Nigeria (CBN)'s axe on the recapitalization process.

Though, all the eight banks bailed out with N620 billion by the CBN eventually scaled the hurdled, unfortunately, three of the banks, Afribank, Spring Bank and BankPHB were nationalized, having been taken over by NDIC and subsequent transferred to the Assets Management Company of Nigeria (AMCON) to manage.

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