The Central Bank of Nigeria (CBN) is to inject 200 billion naira into four more banks and the chief executives officers of three banks may be asked to resign.

The CEOs of Equitorial Trust Bank, Bank PHB, Spring Bank, Unity Bank and Wema Bank were summoned to a meeting in Abuja after the CBN completed its audit of 24 banks and three of the five CEOs may be asked to resign.

On Aug. 14, 2009, CBN injected 400 billion naira into five banks (Afribank, Finbank, Intercontinental Bank, Oceanic Bank and Union Bank) and removed their senior management after the banks were found to be so weakly capitalised that they posed a systemic risk to Nigeria's economy.




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