ABUJA (AFP) ? Nigeria's government has taken over management of three banks rescued under a major 2009 bailout amid concerns over their ability to recapitalise by a September 30 deadline, officials announced Friday.
Afribank Plc, Bank PHB and Spring Bank will now have their assets and liabilities transferred to three new "bridge banks" by the Nigeria Deposit Insurance Corporation, the central bank said.
"The federal ministry of finance supports the decision of the Nigeria Deposit Insurance Corporation to organise and incorporate bridge banks ... as a means of resolving the problems and deficiencies facing Afribank Plc, Bank PHB and Spring Bank," Yerima Ngama, junior finance minister, said in a statement.
"The federal government is pleased to note that this process has not resulted, and will not result, in the loss of any depositors' funds."
The central bank said in a statement that "the depositors of the bridge banks are assured of the safety of all their deposits."
The three "bridge" banks are to be called Enterprise Bank Limited, Keystone Bank Limited, and Mainstreet Bank Limited.
Nigerian authorities removed top management from a number of banks in 2009 amid a bailout that the central bank chief said stemmed in part from huge amounts of bad loans.
Central Bank chief Sanusi Lamido Sanusi has listed a range of abuses at banks leading up to the sweep, including CEOs setting up side companies to loan money to themselves for stock price manipulation.
Banks were given a September 30 deadline to recapitalise, and doubts lingered over the ability to do so of the three banks involved in Friday's action.
The stock market lost 70 percent of its value in 2008-2009, much of it due to the banking crisis in one of the world's largest oil producers and Africa's most populous nation.
laurence fishburne cima brooklyn red jacket eastbay silver price ki
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.