Some of these actions included replacing the chief executives/executive directors of the banks identified as the source of instability in the industry and injection of the sum of N620.0 billion into the banks in an effort to prevent a systemic banking crisis.
Looking back on the 12 months that have passed since the last AAOIFI-World Bank Conference, it is striking how profound have been the changes in the financial landscape since then. The last time this Conference took place it was under the shadow of the bankruptcy of Lehman Brothers. This had cast a dark cloud over the world financial system and the global economy.