By Enitar Ugwu and Moses Ebosele IT is a season of lamentation for shareholders of the three banks acquired at the weekend by the Federal Government. While the final computation of loses incurred by the shareholders is being awaited, tentative figures show that the former owners of the nationalised banks […]

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 […]