LAGOS, (Reuters) – The head of Nigeria’s stock exchange yesterday denied being among debtors owing banks billions of dollars, the latest high-profile business figure to join a showdown with the country’s new central bank governor.
The regulator last week published a list of firms and individuals, including some of Nigeria’s most powerful tycoons, who it said owed 747 billion naira ($5 billion) to five banks bailed out to prevent a systemic banking crisis.
Anti-corruption police have declared the former heads of two of the banks — Cecilia Ibru and Erastus Akingbola from Oceanic Bank <OCBK.LG> and Intercontinental Bank <INBK.LG> — wanted in connection with fraud, insider trading and money laundering.