Where's the $7billion Placed in 14 Banks?
Henry Olujimi Boyo
The report of 14 Nigerian banks which were appointed by the Central Bank of Nigeria as ‘Asset managers’ of Nigeria’s reserves was carried on the back page of The Guardian newspaper of October 5, 2006. Festus Odoko, the CBN’s Head of Corporate Affairs, confirmed in the report that “already, deposits worth $7bn representing part of the CBN’s ‘share of foreign reserves’, presently estimated at about $38bn, had been released to the banking consortium”.
Henry Olujimi BoyoThe report of 14 Nigerian banks which were appointed by the Central Bank of Nigeria as ‘Asset managers’ of Nigeria’s reserves was carried on the back page of The Guardian newspaper of October 5, 2006. Festus Odoko, the CBN’s Head of Corporate Affairs, confirmed in the report that “already, deposits worth $7bn representing part of the CBN’s ‘share of foreign reserves’, presently estimated at about $38bn, had been released to the banking consortium”.
