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- Title
NIGERIA: Final Bank Takeover.
- Abstract
The article discusses the takeover of Nigerian state asset management company AMCON on three failed lenders after the 4 billion U.S. dollars bailout in 2009. The Central Bank of Nigeria, it says, withdrew the licenses of banks including Spring Bank, Afribank and Bank PHB then created three bridge banks including Keystone Bank Limited, Enterprise Bank Limited and Mainstreet Bank Limited. It also notes the increase in the main interest rate of the Central Bank of Nigeria (CBN) to 8.75%.
- Subjects
NIGERIA; MERGERS &; acquisitions; AMCON (Company); SPRING Bank PLC; AFRIBANK (Company); BANK PHB PLC; BANKING industry
- Publication
Africa Research Bulletin: Economic, Financial & Technical Series, 2011, Vol 48, Issue 7, p19200A
- ISSN
2053-227X
- Publication type
Article
- DOI
10.1111/j.1467-6346.2011.04055.x