Nigeriaâ€™s central bank will liquidate banks it took over last year if attempts to recapitalize them are â€œfrustrated,â€ Governor Lamido Sanusi said.
The final decision on recapitalizing the lenders lies with their shareholders, he said at a meeting in the capital, Abuja, according to a statement posted on the banksâ€™ website.
The Asset Management Corp. of Nigeria that will buy bad debts from lenders will enhance the value of shareholdersâ€™ investments in the banks, he said.
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