The Nation August 06, 2011

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‘Why we killed our 70-year-old stepmother’

Ogun drags Daniel’s associate to EFCC over N35m govt property

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U-20 World Cup Oshiomhole to

Nigeria, Saudi Arabia striking Edo workers: in supremacy battle Page

You’re being used

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Nigeria’s truly national newspaper

VOL.05 N0. 1836

TRUTH IN DEFENCE OF FREEDOM

SATURDAY, AUGUST 6, 2011

N150.00

Govt takes over Bank PHB, Afribank, Spring Bank Banks get new identities on Monday Why they were nationalised Page 3 Staff given option to resign Bank PHB

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Spring Bank

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ank PHB came into existence as the outcome of the merger between Habib Bank Limited and Platinum Bank. The union was the result of the consolidation of banks undertaken under the administration of former President Olusegun Obasanjo. The exercise was midwife by the Professor Chukwuma Soludo; led Central Bank of Nigeria. Continued on Page 2

f the emerging banks from the consolidation, none has been as contentious as Spring Bank. Not so much on the basis of size but conflicting interests that gave birth to it. Since inception from the fusion of Omega Bank, Guardian Express Bank , Citizens Bank and African Continental Bank.

Cyril Chukwuma

Shola Ayodele

Continued on Page 2

Afribank

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he case of Afribank is rather pathetic. It used to be one of Nigeria's erstwhile 'big four banks.'. It had stood shoulder-toshoulder with FirstBank, Union Bank and United Bank for Africa. But over the years, it lost both its status and reputation. This necessitated the intervention by the Continued on Page 2

KAREN IGHO

Nebolisah Arah

IN THE NEWS

N10m recovered from police sergeant arrested for robbery

PENGASSAN threatens strike over kidnapping

He had completed his training programme for promotion to the rank of Inspector. Indeed, he had passed the exam and was waiting to be decorated. But the expectation of 38-year-old police sergeant, Onyeka Eboma, ended in a tragic anti-climax. He and four other members of a robbery gang allegedly led by him were arrested. Continued on Page 16

Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has threatened to go on strike to extract government’s commitment to end kidnapping and insecurity in the country. Continued on Page 7

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I miss my my real breasts!


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