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Governor of the Central Bank of Nigeria, Lamido Sanusi, said on Monday a N400 billion ($2.6 billion) capital injection to five ailing banks (Intercontinental Bank, Union Bank, Oceanic Bank, FinBank, and Afribank) would be convertible into some form of Tier 2 debt or preference shares.
“We put the money in as a convertible loan … We will probably convert this into either some kind of...
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Reactions to Nigeria Bank Bailout Convertible to Debt, Says Central Bank of Nigeria (CBN) « African Business News Unleashed
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