In his previous 'incarnation', Salisu was a banker at the defunct Equitorial Trust Bank
and Pacific Merchant Bank.
Others, including Union Bank Nigeria, Intercontinental Bank, Finbank, Oceanic Bank International and Equitorial Trust Bank
, have agreed to be acquired by other lenders
The final picture shows five banks, Oceanic Bank, Intercontinental Bank, Finbank, Equitorial Trust Bank
and Union Bank of the original eight distressed banks signing agreements with new investors.
29 September 2011 -- Nigerian lender Sterling Bank (NIG:STERLNBANK) said on Wednesday its stockholders had cleared its planned acquisition of all assets and liabilities of rescued bank Equitorial Trust Bank
Some of those outstanding contributions have spanned the leadership of our Corporate Treasury and Finance functions, Mergers and Acquisitions having served as Integration Director and Interim CEO of Equitorial Trust Bank
('ETB') prior to its consolidation into Sterling Bank.
22 September 2011 - Nigeria-based Sterling Bank (NIG:STERLNBANK) said today it would place 3bn new shares to back its takeover of local rescued bank Equitorial Trust Bank
The rescued banks include Intercontinental Bank, Oceanic Bank, FinBank, Bank PHB, Afribank, Union Bank, Equitorial Trust Bank and Spring Bank.
Habib of Pakistan will be acquiring majority stakes in Platinum Habib Bank while Equitorial Trust Bank (ETB), led by the business mogul, Mike Adenuga, is looking for a partner - and there are several others searching for suitable institutions to link with.
Nigeria's rankings are still affected by last year's bail-out of nine of the biggest banks in the country: Afribank, Bank PHB, Equitorial Trust Bank
, Finbank, Intercontinental Bank, Oceanic Bank, Spring Bank, Union Bank and Wema Bank, at a cost of $4bn to the CBN.
12 August 2011 - Nigeria-based Sterling Bank (NIG:STERLNBANK) said on Friday it had sealed an agreement to take over local rescued bank Equitorial Trust Bank
Three more CEOs shown the way out On 2nd October 2009, the CBN again wielded the big stick as it sacked the managing directors and executive directors of three banks: Bank PHB, Equitorial Trust Bank
and Spring Bank.