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Vol 51 No 9

Published 30th April 2010


The gung-ho Governor

The ruling party is set to win next month’s elections amid growing criticism at home and abroad

Nine months after he ordered the sacking of six bank chief executives and took their institutions into state management, the Central Bank of Nigeria Governor, Sanusi Lamido Sanusi, has lost none of his reforming zeal. A bill drawn up by Sanusi and his officials to set up an Asset Management Company is likely to be passed in the National Assembly by the middle of next month. This state-backed company will take over the debts of ten distressed banks, allowing them to raise capital. Sanusi expects at least five of the weak banks to merge with some of the stronger institutions in the market.

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