By Odilim Enwegbara There has been confusion since the announcement of the government policy that nationalised three ailing banks: Spring Bank, Bank PHB and Afribank. These banks have now renamed as Enterprise Bank, Keystone Bank and Mainstreet Bank, respectively with almost N700bn of taxpayers’ money sank into them in a […]

By Fidelis Soriwei and Ime Umoren The Nigeria Labour Congress has blamed the Central Bank of Nigeria for the crisis currently rocking the nation’s financial sector. The President, NLC, Mr. Abdulwahed Omar, said in a statement on Tuesday, that it was not possible for the CBN to be extricated from […]

By Udeme Ekwere Banking stocks on the Nigerian Stock Exchange for the second day running suffered huge decline on Tuesday following the nationalisation of three banks. In the last two days, the stocks have declined by 7.7 per cent. This followed the nationalisation of Spring Bank Plc, Afribank Plc and […]