EXCLUSIVE: Nigeria’s Sanusi explains banking sector bloodletting


There was no choice but to act swiftly and decisively when firing the bosses of eight troubled Nigerian banks late last year, Sanusi Lamido Sanusi, the governor of the Central Bank of Nigeria, told CentralBanking.com on Wednesday.

Sanusi fired eight bank chief executives between 14 August 5 October last year, pointing to the grave mismanagement of their institutions. Five of the lenders- Intercontinental Bank, Oceanic Bank, FinBank, Afribank and Union Bank- had to be rescued by the central bank.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: