Business
Experts Commend CBN Over Distressed Banks Handover
Some financial experts have commended plans by the Central Bank of Nigeria (CBN) to hand over some of the distressed banks to the Assets Management Corporation of Nigeria (AMCON) in September.
They said that the handing over of the banks to AMCON would protect depositors’ interests in the banks.
The CBN, last week, said that it would hand over to AMCON any of the distressed banks that failed to recapitalise by September.
Mr Eddie Osarenkhoe, President of Finance Houses Association of Nigeria (FHAN), said that the CBN’s decision would reduce pressure on the management of the affected banks on recapitalisatiion.
Osarenkhoe said that the new gesture of the CBN would help to protect shareholders’ and depositors’ funds and bring the banks on track.
“It is a welcome idea because it will resolve the conflicts between the management of the rescued banks and their shareholders,” he said.
Dr Tunde Adeoye, a Senior Lecturer in the Department of Economics, University of Lagos, said that the CBN’s gesture would ensure sanity in the industry.
“The CBN decision portends good as long as the whole process of recapitalisation will be transparent and the crisis between management of the trouble banks and their shareholders will come to an end,” he said.
Adeoye advised the apex bank to carry shareholders along in the recapitalisation exercise.
Mr Kunle Fatokun, retired Civil Servant and a shareholder in one the banks, urged the CBN to extend the September deadline for the troubled banks to recapitalise.
He said that the troubled banks had step up efforts to source for funds to recapitalise and that the extension would afford the banks more time to put things right.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
Business
NIS Ends Decentralised Passport Production After 62 Years
Business
FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year
-
Sports5 days ago
CAFCL : Rivers United Arrives DR Congo
-
Sports5 days ago
FIFA rankings: S’Eagles drop Position, remain sixth in Africa
-
Sports5 days ago
NPFL club name Iorfa new GM
-
Sports5 days ago
NNL abolishes playoffs for NPFL promotion
-
Sports5 days ago
NSF: Early preparations begin for 2026 National Sports Festival
-
Sports5 days ago
Kwara Hopeful To Host Confed Cup in Ilorin
-
Sports5 days ago
RSG Award Renovation Work At Yakubu Gowon Stadium
-
Politics4 days ago
Rivers Assembly Resumes Sitting After Six-Month Suspension