There are strong indications that the on-going wind of massive job cuts in banks will blow unabated before the end of the year.
Investigations by the Nigerian Tribune indicated that apart from the two banks that sacked over 4,000 workers over the weekend, four banks have also concluded plans to distribute sack letters today.
Nigerian Tribune learnt that two of the four banks fall in the category of those declared safe and sound by the recent special audit instituted by the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC). Read the rest of this entry »
The Central Bank of Nigeria (CBN) yesterday made good its threat to publish names of non-performing debts – owed mostly by politicians, entrepreneurs, and shareholders/directors – whose companies secured loans totaling N450 billion from five banks. 
Nigeria’s Economic and Financial Crimes Commission (EFCC) said on Thursday that it has recovered NGN25 billion from alleged loan defaulters of the five banks whose managing directors were sacked by the Central Bank of Nigeria (CBN).
The Central Bank of Nigeria (CBN) said on Friday 
As we are aware, the world economy has been hit by recession following the financial meltdown that started with the sub-prime mortgage crisis in the United States of America and spread to Europe and other parts of the world.
