The Central Bank of Nigeria, on Friday, fired the chief executive officers of three of the 14 remaining banks at the conclusion of stress audits of their operations. Like the first five banks whose chief executives were fired in the first round of audit of 10 banks, the three were immediately replaced, with one of [...]

The Managing Director/ Chief Executive Officer of Bank PHB, Frank Atuche, will be dismissed later today by the Central Bank of Nigeria, highly placed sources told NEXT last night. Mr. Atuche’s sacking is said to be a direct result of the failure of the bank he heads, to pass the CBN stress audit. The bank [...]

Worried by the extent of theft of public funds by public officials, the chairperson of the Economic and Financial Crimes Commission, (EFCC) Farida Waziri has called for a psychiatric evaluation of aspirants seeking election into public offices. Mrs. Waziri said this in Kaduna on Monday, at a workshop on transparency and accountability, organised by the [...]

Following the second round of banks’ audit exercise conducted by the Central Bank of Nigeria (CBN), officials of the apex bank found that a managing director (name withheld), whose shareholders have strong political influence in the current administration, allocated to himself share capital of N85 billion that is yet to be paid up. Daily Sun [...]

Despite assurances by the Central Bank (CBN) governor, Mallam Sanusi Lamido that he does not expect many surprises from the second round of audit of banks in the country, reports reaching Sunday Vanguard suggest that the rot in a few of the 14 banks is not significantly different from the first five whose MDs were [...]

The Central Bank of Nigeria (CBN), said it will commence the issuance of 1.9 billion new polymer currency notes of N5,N10 and N50 denominations. Its governor, Malam Lamido Sanusi, said this yesterday, adding that President Umaru Yar’Adua will launch the new notes on September 30. He said; “The existing denominations of N5, N10, and N50 [...]

THE Central Bank of Nigeria, CBN,in a statement made by its Governor Mallam Lamido Sanusi said that it would print money to save the ailing banks in the country. The Central Bank governors stated that the CBN does not require any appropriation by the National Assembly for it to lend money to the banks as [...]

The Economic and Financial crimes commission (EFCC) files charges against 16 Bank ExecutivesThe economic and financial crimes commission has filed charges against 16 executives of the five troubled banks whose administration has been replaced by the Central bank of nigeria (cbn). An EFCC spokesman said that the EFCC got approval from the Attorney General of [...]

A week after the central bank governor Lamido Sanusi announced the sack of the MDs/CEOs of five banks, the banking sector has been in a state of constant flux.The EFCC announced recently that it had no idea of the whereabouts of the former CEOs of Intercontinental Bank And Oceanic Bank.Of Oceanic Bank’s Mrs ecilia Ibru [...]