Consequently, having reviewed all the reports of the examiners and the comments of the Directors and Deputy Governors, I am satisfied that these 5 institutions are in a grave  2  BIS Review 111/2009  situation and that their Management have acted in a manner detrimental to the interest of their depositors and creditors, Therefore, in exercise of my powers as contained in Sections 33 and 35 of the Banks and Other Financial Institutions Act 1991, as amended, and after securing the consent of the Board of Directors of the CBN, I hereby remove the Managing Directors and the Executive Directors of the following banks from office with effect from Friday, August 14, 2009.
We will be coming to your career fair in DkIT on 16th October, so make time to come and talk to us. I will now hand over to Mark Cassidy, the Central Bank’s Director of Economics and Statistics who will give a short presentation, after which I look forward to an engaging discussion with you. Thank you.