TradeInvestNigeria Staff
The Central Bank of Nigeria (CBN) has set out four recapitalisation options for the country's troubled banks.
The Guardian reports the options will be studied by the board and management of the nine distressed banks, together with the CBNs appointed advisors to the banks. According to the newspaper it got the information from a source in the CBN.
The four options outlined by the apex bank are the following:
The CBN has appointed three financial advisors, two legal advisors and two accounting firms to help the nine banks resolve their problems. Deutsche Bank is the lead financial advisors to the banks with Stanbic IBTC and Chapelhill & Denham as to two other advisory firms. KPMG and Delloite are the two accounting firms while the legal advisors are Kola Awodeyin & Co and Okanlawon Ajayi & Co.
