The Central Bank of Nigeria in a continuation of its recent shake up of the banking sector has announced the removal of the MD/CEOs of ETB- Equirotial Trust Bank, Bank PHB and Spring Bank. This is coming amidst the rumoured resignation of Mr Francis Atuche, the CEO of Bank PHB. Also removed are the Non Executive Directors of Spring Bank and Otunba Mike Adenuga of Equitorial Trust Bank.
It is however surpising that Bank PHB had hitherto been considered as untouchable owing to the fact that the President's family hold a substantial stake in the bank.
The CBN has further injected the sum of N200 billion into the banks including Wema Bank.
The affected CEOs have been replaced.