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May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
May 28 2012 07:53
The City of Cape Town has spent R175m running the Myciti bus service since the Soccer World Cup compared to an income of R35m, a report says.
Lagos - The Nigeria Stock Exchange has lifted its suspension on trading in stocks of five banks whose management were sacked by the country's central bank because of bad debts, a spokesperson said on Wednesday.
"Trading has resumed on the shares of the five banks. The two-week suspension was lifted yesterday," Wole Tokede told AFP.
Stock exchange chief Ndi Okereke-Onyuike placed suspending trading in shares in the banks on August 17 after the shake-up by the Central of Bank of Nigeria (CBN).
CBN governor Sanusi Lamido Sanusi put the total loan portfolio of Afribank, Intercontinental Bank, Union Bank, Oceanic Bank and Finbank at 2.8 trillion naira ($17.8bn/€12.6bn).
He appointed new management for the ailing banks while a 400-billion-naira bailout was also approved for them.
The country's anti-graft agency EFCC on Monday charged some former directors of the distressed banks with fraud and having granted huge loans without collaterals.
- AFP