Nation
CBN Shops for Investors In Five Banks …Following Sack Of MDs
Following the sacking of the management of five commercial banks, the Central bank of Nigeria, CBN, is now looking for investors for the financial institutions which are now under its supervision.
The CBN Governor, Lamido Sanusi said the N400 billion injected into the affected banks would be converted into tiers through all-purpose shares in order to attract investors.
Meanwhile, the Nigerian Stock Exchange, (NSE) has placed the sale of the five banks whose chief executives were sacked last week on hold, for two weeks.
The banks are Afribank, Oceanic Bank, Intercontinental Bank, Finbank and Union Bank.