Nigeria’s Sanusi goes on sacking spree

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Lamido Sanusi, the governor of the Central Bank of Nigeria, on Friday said he had sacked the chief executives of five of the country's banks.

Sanusi told reporters in Lagos that he had fired the heads of Intercontinental Bank, Oceanic Bank, Union Bank, FinBank and Afribank over what he described as their poor decision-making which led to a raft of bad loans. All of the banks have been hit by the country's debt crisis, the result of over-investment in the country's capital markets and energy sect

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