Soludo’s banking consolidation a sham – Sanusi – Daily Trust
March 1, 2010 by Bunmi Awolusi · Comments Off
The banking consolidation exercise carried out by the then governor of the central bank Prof. Charles Soludo has come under fire from the current CBN Governor Sanusi Lamido Sanusi who said the exercise was a sham and that many of the banks never raised the capital which they claimed they did.
N620bn bailout: Court strikes out Rep’s suit against Sanusi – The Punch
February 24, 2010 by Bunmi Awolusi · Comments Off
A Federal High Court in Lagos on Tuesday struck out a suit by the leader of the members of the Action Congress in the House of Representatives, Mr. Femi Gbajabiamila, challenging the propriety of the Governor of Central Bank of Nigeria, Mr. Lamido Sanguine, to disburse a N620bn to some ailing banks as bailout funds.
CBN gets five new depts – The Nation
February 19, 2010 by Bunmi Awolusi · Comments Off
The Central Bank of Nigeria (CBN) yesterday unveiled a new structure to enhance its efficiency.
The structure, which streamlines the bank into 25 departments, takes effect from March 1. The bank had 20 departments before the exercise.
CBN, NDIC begin fresh audit of banks – Tribune
February 15, 2010 by Bunmi Awolusi · Comments Off
Checks by the Nigerian Tribune revealed that 89 NDIC officials and an unspecified number of CBN officials were already conducting offsite and onsite examination of the banks to re-ascertain their financial status with a view to promoting a sound and safe banking industry.
CBN, SEC to cut own officials’ equity in banks, others – The Guardian
January 26, 2010 by Bunmi Awolusi · Comments Off
Another sweeping reform looms in Nigeria’s financial sector. This time, the focus is on senior officials of the industry regulatory agencies.
The initiative is being spearheaded by the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), Nigerian Deposit Insurance Corporation (NDIC), the Nigerian Stock Exchange (NSE), and Pension Commission (PENCOM), all regulators of the financial market.
Bank PHB Nigeria ED Resumes with New Agenda
January 22, 2010 by Bunmi Awolusi · Comments Off
Bank PHB Plc has announced the resumption of three of its four Central Bank of Nigeria (CBN) appointed executive directors even as it announced a new roadmap to re-invigorate the organisation.
The new road map announced at an induction for the three newly appointed executive directors is based on six pillars, geared towards rebuilding the business’ foundation and establishing a direction for profitable future operations driven by efficiency and accountability. These levers are: Recapitalization; Debt Recovery; Governance – Risk Management, Corporate Governance and Controls; Business Streamlining; People; Return-to-Business Strategy. These pillars and related strategies were arrived at through a broad-based strategy formulation exercise chaired by the Managing Director, Mr. Cyril Chukwumah.
FEC okays N488m body scanners for airports – The Guardian
January 14, 2010 by Bunmi Awolusi · Comments Off
The Federal Executive Council (FEC) yesterday approved a contract for the procurement and deployment of 10 three-dimensional (3-D) total body scanners at four major international airports in the country.
Court to rule on suit against CBN, Sanusi – The Guardian
January 14, 2010 by Bunmi Awolusi · Comments Off
A Federal High Court in Lagos, yesterday, fixed February 23 to rule on a suit filed by a member of the House of Representatives, Femi Gbajabiamila, against the Central Bank of Nigeria (CBN) and its Governor, Mr. Lamido Sanusi, over an alleged disbursal of the sum of N620 billion to weak banks without appropriation by Sanusi.
Shareholders desperate to reclaim troubled banks – Vanguard
November 2, 2009 by Bunmi Awolusi · Comments Off
The major shareholders, investors and other stakeholders in the eight troubled banks are making moves to reclaim them, vowing to co-operate with the Central Bank installed managements there.
They also pledged to seek new investors and recapitalise the banks if CBN will accept the proposal.
No Nigerian linked to $10m Polymer bribe – Vanguard
October 26, 2009 by Bunmi Awolusi · Comments Off
Governor of the Central Bank, CBN, Mr. Lamido Sanusi, has said that no Nigerian has been mentioned in relation to the $10 million polymer bribery scandal.
He said when the money is eventually traced to Nigeria or to a Nigerian, he would expect the Economic and Financial Crimes Commission EFCC, to swing into action.
