Home › T19 Categories › * Economics, Politics › (AP) Nigerian government nationalizes 3 banks as industry is embroiled in corruption allegations
T19 Access
Search
Categories Main
Categories Exhaustive
T19 Resources
T19 Access
Search
Categories Main
Categories Exhaustive
T19 Resources
(AP) Nigerian government nationalizes 3 banks as industry is embroiled in corruption allegations
Nigerian financial regulators nationalized three banks Friday night in the course of an ever-widening probe of corruption allegations and mismanagement of fiscal institutions in the oil-rich nation.
Authorities took over Afribank PLC, Bank PHB and Spring Bank PLC after markets closed in Africa’s most populous nation, quickly renaming the institutions Mainstreet Bank Ltd., Keystone Bank Ltd. and Enterprise Bank Ltd., the country’s finance ministry said.
Read it all.