N200b ecological fund: NEC accuses OBJ of mismanagement – Tribune
November 11, 2009 by Bunmi Awolusi
Gorvernor of Central Bank of Nigeria (CBN), Malam Lamido Sanusi said on Tuesday that federal government ownership of any of the ailing bank would be tempory.
Briefing State House reporters after the meeting of National Economic Council (NEC), Sanusi said the first option by the government to the banks was to rescue themselves by raising necessary capital to run their operations.
He however said that if any of them could not help itself, the government would take it over temporarily but assured that the government would relinquish the ownership quickly.
He also said that the Council was briefed by the Central Bank on the shortage of loans to businessmen and that a retreat would hold in December to address the issue.
