CBN’ll sell all rescued banks –Sanusi

All the systemically important banks rescued in a bailout two years ago will find new investors, with four of them already agreed in principle on mergers, Central Bank Governor, Lamido Sanusi, said on Thursday. The CBN had in 2009 injected N620 billion into nine lenders deemed by auditors to have become so weakly capitalised that they posed a risk to the entire banking system in sub-Saharan Africa’s second-biggest economy.An Asset management corporation of Nigeria (AMCON) has been set up to restore them to zero shareholders funds but new investors have been sought to bring them up to minimum
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