Africa ~ Nigeria: 3 Banks Nationalized in Corruption Inquiry ..
Nigerian financial regulators nationalized three banks on Friday night in the course of an inquiry into corruption and mismanagement of fiscal institutions.
Finance Minister Yerima Ngama said the move “represents an important milestone in the process of stabilizing the banks and enables these banks to move forward with a more certain future.”
The nationalizations came two years after the nation’s central bank injected $2.55 billion into the troubled banking industry.
Saturday, August 6, 2011
Africa ~ Nigeria: 3 Banks Nationalized in Corruption Inquiry ...
August 5, 2011
