A former Nigerian bank boss being sought by the country's anti-corruption police has turned herself in.
Cecilia Ibru, who the central bank sacked from her chief executive position at Oceanic Bank on 14 August, had been sought for three days.
She is now due to be questioned on suspicion of fraud, insider trading and money-laundering.
Ms Ibru and other bank bosses were sacked after the central bank had to come to the rescue of five lenders.
The Central Bank of Nigeria has to inject a total of 400bn naira ($2.6bn; £1.6bn) into the banks - Afribank, Intercontinental Bank, Finbank, Oceanic Bank and Union Bank - after all were found to have seriously low cash reserves because of a series of bad loans.
Fifteen other chief executives at the banks are already being questioned by police, following the expiry of a deadline for many of the loans in question to be repaid.
"She [Ms Ibru] gave herself up this afternoon. She is being interrogated," EFCC spokesman Femi Babafemi said.
Shares in the five banks, which account for 40% of the country's bank credit, have been suspended.
They had run up bad loans totalling a collective 1.14 trillion naira.
Nigeria is no stranger to corruption, but the latest scandal has dominated the country's media headlines.
Wednesday, August 26, 2009
Nigeria bank boss held by police
Ghana Pundit Headline News
Pan Africa News
Peacefm Online - News with a vision
The Times - World News
The Times - Africa News
Pambazuka News :Emerging powers in Africa Watch
AfricaNews - RSS News
The Zimbabwe Telegraph
BBC News | Africa | World Edition
My Blog List
Guest Post: Desert Mirage: Fact-checking China in Namibia - *This guest post is by Jyhjong Hwang, the Senior Research Assistant at the** China-Africa Research Initiative at Johns Hopkins SAIS. * On Sunday, *The New...3 months ago
A Leopard can’t change its skin: PNDC versus Rev. Charles Palmer Buckle, NDC versus Rev Martey & Otabil - The Catholic Standard, before it was banned by the PNDC government of Jerry John Rawlings in 1985, was Ghana’s oldest private newspaper, owned by the Catho...10 months ago