AP
5 August 2011
Nigerian financial regulators nationalized three banks Friday night in the course of an ever-widening probe of corruption allegations and mismanagement of fiscal institutions in the oil-rich nation.
Authorities took over Afribank PLC, Bank PHB and Spring Bank PLC after markets closed in Africa ’s most populous nation, quickly renaming the institutions Mainstreet Bank Ltd., Keystone Bank Ltd. and Enterprise Bank Ltd., the country’s finance ministry said.
The move comes two years after the nation’s central bank injected $2.55 billion into the troubled banking industry and some former CEOs now face allegations of stealing depositors’ money.
No comments:
Post a Comment