Following our story yesterday about the SEC director general calling for a bail out of banks, the CBN has hit back, saying that the a bank bail out was unneccessary, rubbishing the comments made yesterday.
A spokeman for the CBN, Deputy Director of Corporate Affairs of the CBN, Festus Odoko stated that the banks were well capitalised to deal with the fall out of the nearly N400 billion loan given to stockbrokers being defaulted.
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Tuesday 3 February 2009
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