The Central Bank of Nigeria (CBN) has dismissed the Chief Executive Officers and other top management of five major Nigerian Banks. The banks are Intercontinental Bank, Union Bank, Afribank, Oceanic Bank and FinBank.
This appears to be the first step in a drastic plan to clean up Nigeria’s ailing banking industry.
The news comes at a time when the CBN governor, Sanusi Lamido Sanusi, a risk management expert is preparing to sit down for a meeting with all the chairpersons and chief executives of all twenty three of Nigeria’s banks, later today in Lagos. Our sources say that no proxy representation is allowed at the meeting and this has forced many chairperson and CEOs, many of whom were on holiday abroad, to fly back to Nigeria in the last twenty four hours.
Due to the high sensitivity of the news, ST will brief you more later after due research and findings.