Can Anybody Revoke A Licence That Is Granted To A Bank - Business - Nairaland
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| Can Anybody Revoke A Licence That Is Granted To A Bank by maureensylvia(f): 2:12pm On May 23, 2015 |
pls lawyers in the house, back it up with some cases. thanks in anticipation |
| Re: Can Anybody Revoke A Licence That Is Granted To A Bank by Nobody: 3:29pm On May 23, 2015 |
Yes. The CBN, as the industry regulator, has the power to revoke licenses granted to commercial banks. The central bank primarily derives it's power from the CBN Act of 2007. Also, in Savannah v CBN, a high court basically held that it's proper for the CBN to revoke the license of a bank. Although a Federal court of appeal ruler that the central bank did not properly revoke Savannah's license |
| Re: Can Anybody Revoke A Licence That Is Granted To A Bank by maureensylvia(f): 4:40pm On May 23, 2015 |
waooooo |
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