14 Banks Know Fate In October
Oby Ikeh, Lagos
14
Banks in Nigeria would know their fate by October
when the central Bank of Nigeria’s audit report
would be published.
The Central Bank of Nigeria Governor Mallam lamido
Sanusi made this known in Lagos, while briefing
stockbrokers at the Nigerian stock exchange.
Focus of reform
He said one of the objectives of the ongoing reforms
in the banking sector was to ensure that the
industry is strong and more efficient.
The apex bank boss used the opportunity to lay out
the critical aspects of the banking reform and
efforts made so far to recover bad debts among
others.
Financial analysts applauded the visit of Mallam
Sanusi Lamido to the Stock Exchange as a quick step
to restore confidence to the market and brief
stockbrokers on the debt recovery and efforts as it
affect the exchange.
The chief executives of five top banks were sacked
by the CBN on August 14 for granting non- performing
loans among others.
Qasim / Austeen