The CBN Take-Over Of Some Banks In Nigeria: Serious Legal Questions Remain Unanswered.

Mondaq Business Briefing - Nbr. 2009, January 2009


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Summary:

Banks and other Financial Institutions Act - Banks restructuring and securities law

Headnotes:

Extract:

The CBN Take-Over Of Some Banks In Nigeria: Serious Legal Questions Remain Unanswered.

September 2009 Vol. 22: Issue #9

In the past two weeks, Nigeria has witnessed certain radical measures imposed on some banks by the new Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi on August 14, 2009.

For purposes of clarity, the orders issued by the CBN Governor may be categorized into three, namely:

The removal of various officers constituting the executive management of th...



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