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EFCC files charges against Ibru, Ebong, 13 others

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.

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EFCC declares Ibru’s associates wanted

The Economic and Financial Crimes Commission, EFCC has declared the Chairman, Abuja Chamber of Commerce and Industry, Mr. Dele Oye and Mrs. Nananshettu Bedell, claimed by the commission as associates of the former Managing Director of Oceanic Bank, Mrs Cecilia Ibru, wanted in connection with the on-going investigation in the banking sector.

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CBN to sell five bailed banks 100% to foreign investors

Sanusi who was quoted by Reuters while speaking in London at the conference the CBN governor called to reassure counter-party banks and foreign investors about the bailout said that he would not “stand in the way of any foreign banks taking a 100 per cent stake in the five Nigerian institutions”. The CBN also said that the five banks will be run as going concerns until new investors can be found to recapitalise them.

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