Letters - Trade Bank: CBN, please explain

Date: 2013-12-01

Sometime ago, the United Bank for Africa acquired the Kwara State owned Trade Bank. Till now, the shareholders of the defunct bank have not been told the position of their shares. An enquiry at the Abeokuta branch of UBA revealed that it acquired only the assets and not the liabilities. Does this mean that the shares just evaporated without any concern for the shareholders? The Central Bank of Nigeria and the Nigerian Deposit Insurance Corporation surely have something to explain here.

PETER Sobowale,
Oluwo Onikolobo, Abeokuta, Ogun State,

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