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Nigeria's central bank said yesterday it was injecting 400 billion naira ($2.6-billion U.S.) into five banks and removing their management because their undercapitalization posed a risk to the banking system. Central Bank governor Lamido Sanusi said that Afribank, Finbank, Intercontinental Bank, Oceanic Bank and Union Bank would be run as going concerns until new investors could be found to recapitalize them. The five banks' liquidity ratios ranged from 17.65 per cent to 24 per cent as at the end of May, below the 25-per-cent regulatory minimum.

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