Ondo State Governor Dr. Olusegun Mimiko and Laywer, activist, Bamidele Aturu have described the death of Chief Gani Fawehinmi as a painful loss for the nation. Aturu wrote:

THE last may not have been heard about the crisis facing Nigerian financial institutions as the Yoruba socio-cultural group, Oodua People’s Congress (OPC) leader Dr Federick Fasehun yesterday disclosed that the Federal Government is owing Nigeria banks a sum of N3.2 trillion.

That is where professionalism and maturity come in. When we are on set, we know it is the job. Our roles as a husband and wife do not change whenever we are at home. Knowing full well that movie is make-believe and it is our responsibility to ensure that people believe us.

Detained banks’ chiefs, yesterday, alleged that the Economic and Financial Crimes Commission, EFCC’s operatives were asking them to bargain for their freedom with their shares in the five troubled banks.

A Federal High Court sitting in Abuja, yesterday, issued an interim injunction stopping the Economic and Financial Crimes Commission, EFCC, from arresting, detaining, prosecuting or embarrassing the immediate past Governor of Rivers State, Dr. Peter Odili over a N189m debt owed Finbank Plc.

The Governor of Central Bank of Nigeria, CBN, Mallam Sanusi Lamido Sanusi, rose, yesterday, in stout defence of the N420billion he injected into the five troubled banks, saying that he acted in consonance with the provisions of the Banks and Other Financial Institutions Act, BOFIA, which is also an Act of the National Assembly.

Addressing newsmen at the end of the 210th Monetary Policy Committee,MPC, meeting of the bank, Sanusi who stressed that CBN does not require any appropriation by the National Assembly for it to lend money to the banks as part of its statutory responsibilities, said as the lender of last resort, what it did was to create money in line with CBN Act which gave it the power to create and lend money “whenever the situation arises.”

While the 16 bank chiefs, sacked two weeks ago by the Central Bank of Nigeria, CBN and no fewer than 68 of their debtors continue to cool their heels either in the agency’s custody or in Ikoyi prisons, strong indications emerged that operatives of the Economic and Financial Crimes Commission, EFCC, have concluded plans to seize the assets of the detainees.

The Minister of Power, Dr. Lanre Babalola, has hinted that the current demand for power in the country is in the range of 5,100 megawatts.

Former Managing Directors of Oceanic Bank, Mrs Cecilia Ibru; FinBank Nigeria Plc, Mr Okey Nwosu; Mr Sebastian Adigwe of Afribank Plc and Mr. Bartholomew Ebong of Union Bank of Nigeria Plc, who were sacked three weeks ago by the Governor of Central Bank of Nigeria, CBN, Mallam Sanusi Lamido Sanusi, yesterday were arraigned before a Federal High Court sitting in Lagos, on five separate charges of 131 counts, bordering on fraud, concealment and grant of loans without adequate collateral, running into about N625.95billion.