Nigeria steps up bank graft trials

By Incorrect Author 5 November 2009

Two former directors of Bank PHB in Nigeria are the latest executives to face criminal charges after a $4 billion central bank bailout stopped nine financial institutions from going to the wall. Nigerian anti-corruption police accused the two of mismanaging depositor funds and granting credit without collateral in a 26-count charge. Both pleaded not guilty. The banking regulator has charged numerous other senior bankers following a preliminary audit of lenders which found lax governance posed a systemic risk. The charges range from recklessly granting loans to share price manipulation. Read more: Reuters

Gallery

Don't believe Han Solo's evasion of Empire TIE Fighters. There are many miles of vacuum space between each asteroid in a field.

0