Posted by By SEUN ADESIDA on
Banking operations were still going on yesterday in some of the 13 banks earmarked for liquidation by the Central Bank of Nigeria (CBN).
Banking operations were still going on yesterday in some of the 13 banks earmarked for liquidation by the Central Bank of Nigeria (CBN).
Daily Sun checks at the headquarters and branches of some of the banks revealed that normal banking operations were still going on even as their officials still believe that something would be done by the CBN to save them.
Most of the banks staff were seen conducting normal official duties despite the fact that they are as it were, technically liquidated, according to a release issued by CBN.
At the premises of most of the banks, there were no presence of CBN or NDIC officials, nor were the premises sealed off by policemen.
It will be recalled that CBN had released the names of the 13 banks that did not meet up with the N25 billion capital base. They include Eagle Bank, Metropolitan Bank, City Express Bank, Liberty Bank, Assurance Bank, All States Trust Bank, Hallmark Bank, Triumph Bank, Trade Bank, Gulf Bank, Fortune Bank, African Express Bank and Societe Generale Bank.
At Hallmark Bank, activities were still going on. At the Oba Akran branch of the bank, customers were seen struggling to withdraw from their accounts. Some officials of the bank told Daily Sun that they were still hoping to get the required N25 billion and that they were doing everything possible to ensure that the bank does not go down.
A source disclosed that the chairman of the bank, Sir Marc Wabara flew in from his home town, where he had gone for the Christmas and New Year festivities, assuring the workers that all would be well and that by March, the bank would have raised money to meet the N25 billion capital base.
ACB International Bank Plc said that it was not among the 13 banks earmarked for liquidation by the Central Bank of Nigeria as activities were still going on at its branches nationwide.
The bank's Head of Corporate Communications, Mr Igwe U. Igwe said in a statement that contrary to stories in some newspapers, the bank was not among the liquidated ones. Mr Igwe said the CBN has not classified ACB International under liquidation. "This fact may be confirmed from the CBN," Igwe said.
Societe Generale Bank Nigeria Limited said it was given 80 per cent forebearance and was not among the banks whose licences were withdrawn by the Central Bank of Nigeria (CBN).
A well-placed source who spoke to Daily Sun said the reason was simply that SGBN had applied to the Apex bank for absorbtion by First Inland Bank, adding that the arrangement still subsists.
At the Trade Bank, activities were still on at the headquarters where a source said they are doing everything possible to raise the capital base, so as to escape the liquidation hammer. At the Ikeja branch of the bank, armed security personnel were seen trying to keep depositors at bay.
At the Assurance Bank, staff are already under the control of the CBN and their fate along with that of the remaining banks will be determined by the middle of this month, when the CBN is expected to carry out the liquidation exercise.
Prof Charles Soludo, the CBN Governor has assured depositors in these banks not to panic as their deposits will be given back to them.
The exercise that will be conducted after 90 days of liquidation of the affected banks.
For the affected banks, all hope is not lost as the CBN boss also said that any of them can still apply for banking licenses provided they meet the minimum capital requirement of N25 billion.