Case Study: The Union Bank Recapitalisation Process
To reiterate the arc of earlier chapters, eight banking institutions were effectively under the control of the Central Bank of Nigeria (CBN) by October 2009, in the wake of the special examination of the Nigerian banking sector conducted by a joint CBN and Nigeria Deposit Insurance Corporation (NDIC) audit team. In the process, the boards and executive management of all eight banks were summarily dismissed.
KeywordsCorporate Governance Banking Sector Capital Adequacy Banking Institution Weak Internal Control
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