The headquarters of a large Nigerian bank: The country's central bank has fired the top management of five banks, causing jitters among investors.
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Central Bank Fires Nigerian Bank Chiefs
The Central Bank of Nigeria (CBN) has fired the bosses of five of the country's banks, causing customers to panic and investors to get jittery. CBN governor Sanusi Lamido Sanusi said the banks were in "a grave (financial) situation" and accused their managements of having acted "in a manner detrimental to the interest of their depositors and creditors."
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Nigeria: Bank Debtors Get 7-Day Ultimatum
This Day, 20 August 2009
Debtors owing the five troubled banks whose chief executives were axed last Friday by the Central Bank of Nigeria (CBN) seem to have no breathing space any longer. Read more »
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Nigeria: If a Bank is Sick, the Signs Are Self-Evident, Says Sanusi
This Day, 16 August 2009
Few hours after the CBN governor, Sanusi Lamido Sanusi announced the sack of the managing directors/chief executives as well as the executive directors of five banks; he… Read more »
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Nigeria: Banks' Share Prices Fall - NSE Suspends Bailed-Out Banks
Daily Trust, 18 August 2009
Shares of banks tumbled yesterday at the Nigerian Stock Exchange (NSE) on the first day of trading after Friday's shakeup of top managers of five banks and a N400 billion bailout. Read more »
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Nigeria: Foreign Investors Jittery Over Bank CEOs' Sack
Vanguard, 17 August 2009
The removal of managing directors/chief executive officers of five banks last friday by the Central Bank of Nigeria (CBN), has jolted the international investing community as they… Read more »
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Nigeria: Workers Reject Foreign Takeover of Banks
Leadership, 2 September 2009
Workers in the nation's banking and insurance sectors have kicked against plans by the Central Bank of Nigeria to sell the five "troubled banks" to foreign investors. Read more »
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Nigeria: Central Bank Names Defaulting Bank Debtors
This Day, 19 August 2009
In what is considered an effort to diffuse the blame on the liquidity challenge in the banking sector, the Central Bank of Nigeria (CBN) yesterday released the names of debtors -… Read more »
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Nigeria: Anti-Corruption Body Detains 11 Bank Executives
Independent (Lagos), 19 August 2009
The story of the five troubled banks turned into a roller coaster on Tuesday: with arrests, counter accusations, and litigation demanding N50 billion in damages all thrown into the… Read more »
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Nigeria: Senate, Speaker Hail Sacking of CEO's
This Day, 18 August 2009
The Senate has hailed the sacking of Chief Executive Officers (CEOs) of five commercial banks by the Governor of Central Bank of Nigeria (CBN), Malam Sanusi Lamido Sanusi,… Read more »
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Nigeria: New Day Dawns in the Banking Sector?
Independent (Lagos), 17 August 2009
We cannot but be suitably impressed with the action recently taken by the Board of Directors of the Central Bank of Nigeria (CBN) to restore some semblance of sanity in the… Read more »
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Nigeria: FG Lacks Capacity to Fight Corruption - NBA
Independent (Lagos), 18 August 2009
On Monday, Senators expressed backing for the sack of the five bank Managing Directors (MDs) last Friday; lawyers also did, but with reservation over the capacity of Abuja to fight… Read more »
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Nigeria: Sacked Bank MDs Under Surveillance, Declare Sanusi, EFCC
Vanguard, 18 August 2009
The five Managing Directors of banks sacked by the Central Bank of Nigeria (CBN) on Friday may be in for more trouble as the Federal Government has launched an investigation into… Read more »
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Nigeria: Yar'Adua Okays Sack of Bank MDs
Independent (Lagos), 17 August 2009
Aso Rock has expressed support for the sack of bank Chief Executive Officers (CEOs) by the Central Bank of Nigeria (CBN), and has directed the police and other security agencies to… Read more »
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Nigeria: CBN Assures, As Customers Panic
Leadership, 16 August 2009
As the nation is yet to recover from the shock of the sack of managing directors of five banks by the Central Bank of Nigeria (CBN) on Friday, the apex bank has assured that there… Read more »
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Nigeria: How the Coup Was Perfected in Aso Rock
This Day, 16 August 2009
Exit Soludo, Enter Sanusi. President Umaru Musa Yar'Adua, worried by the reports he was getting that there was a deep-seated crisis in the banking sector, called former CBN… Read more »
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Nigeria: Margin Loans That Cost MD's Their Jobs
Vanguard, 15 August 2009
MORE bank chief executive officers may be sacked by the Central Bank (CBN), if the ongoing examination of books of 11 banks by the apex financial institution and the Nigerian… Read more »
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Nigeria: Sanusi - Why We Removed Bank Chiefs
This Day, 15 August 2009
Yesterday's decision by the Central Bank of Nigeria to sack the managing directors/chief executives as well as the executive directors of five banks was aimed at saving the banks… Read more »
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Nigeria: CBN Sacks Five Bank CEOs, Injects N400 Billion
This Day, 14 August 2009
The Central Bank of Nigeria has moved to inject N400 billion into five banks in the country following the decision to remove the CEOs and executive directors of the affected banks.… Read more »
