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Vol 50 No 18

Published 11th September 2009


Nigeria

After the bank purge, back to the politics

Taken aback by the seriousness of the Central Bank’s efforts to reform the financial sector, some politicians and debtors are plotting their revenge

The targets of Central Bank of Nigeria Governor Lamido Sanusi's banking purge are beginning to fight back. Four bank chief executives have been arraigned on criminal charges and a fifth, Erastus Akingbola, remains at large in Britain. The trouble started on 14 August when Sanusi announced the sacking of five bank chiefs and the appointment of new management to run them – under the CBN's supervision (AC Vol 50 No 17).

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