SHAREHOLDERS of the eight rescued banks were yesterday assured by the Central Bank of Nigeria (CBN) that the final decision on the recapitalisation of the banks rests with them.

Speaking at a stakeholders meeting with the boards of directors, management and shareholders of the banks, the apex bank Governor, Malam Sanusi Lamido Sanusi, assured them that having secured the depositors’ funds with the reform and other measures instituted within the last few months, the focus now is to salvage some values for the shareholders.

Sanusi noted that liquidation and nationalisation are not desired options, adding that he was convinced that fresh injection of capital through strategic partnership remains the best approach to quickly get the banks to safe haven.

The CBN boss allayed the fears of stakeholders, making it very clear that the CBN would not sell the banks as it is not the business of the apex bank to do that.

The CBN, according to him, only recommended some reputable financial advisers, who are working with the board and management of these banks to source and negotiate with any of such investors that can create some value for the affected banks.

He emphasised that the process of repackaging the banks is being driven by the boards of the affected banks, some of which have held discussions with the strategic partners without direct involvement of the CBN.

The stakeholders commended the CBN for reaching out to the shareholders and urged that the two options of liquidation and nationalisation should not be considered by the CBN.