Nigeria suspends trading in troubled banks

central-bank-of-nigeria

The Nigerian stock exchange on Monday suspended trade in the shares of the five banks whose heads were fired on Friday by Lamido Sanusi, the governor of the country's central bank.

The affected banks are Afribank Nigeria, Intercontinental Bank, Oceanic Bank International, Union Bank Nigeria and Finbank. Ndi Okereke-Onyiuke, the director-general of the country's stock exchange, said the decision to suspend the stocks will be reviewed in two weeks.

On Friday, Lamido Sanusi, the newly appointed gov

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