{"id":437761,"date":"2011-06-08T03:00:39","date_gmt":"2011-06-08T03:00:39","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/06\/08\/cbn-court-injunctions-can%e2%80%99t-stop-banking-reform\/"},"modified":"2011-06-08T03:00:39","modified_gmt":"2011-06-08T03:00:39","slug":"cbn-court-injunctions-cant-stop-banking-reform","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/06\/08\/cbn-court-injunctions-cant-stop-banking-reform\/","title":{"rendered":"CBN: Court injunctions can\u2019t stop banking reform"},"content":{"rendered":"
\n

\u00a0By FAVOUR NNABUGWU<\/strong><\/p>\n

ABUJA -The Central Bank of Nigeria,CBN, yesterday, said that the pilot project for the N150,000 cash limit will begin from Lagos in December.<\/p>\n

The\u00a0 apex bank said it will take steps to vacate court injunctions restraining it from presiding over the sale of rescued banks, stating that it will not be frustrated by such injunctions from any of the eight rescued banks\u2019 shareholders in its bid to ensure full recapitalisation of the banks or their liquidation, in extreme cases.<\/p>\n

CBN\u2019s Director of Banking Supervision, Mr Samuel Oni, told newsmen after the Bankers\u2019 Committees\u2019 meeting in Abuja, that the cashless economy initiative pilot policy would start in Lagos in December, this year, and later through the nation by June, next year.<\/p>\n

He said \u201cCBN is resolute in the pursuit of the recapitalisation process to its logical conclusion. We will not sit and fold our arms while the process is being frustrated by various unwarranted court cases.<\/p>\n

\u201dWe will not allow the process to be frustrated by court cases to obtain injunction. We believe that before injunctions are issued, both parties should be given fair hearing.\u201d<\/p>\n

Oni was with Mr Godwin Emefiele, Zenith Bank MD; Mrs Sola David-Borha of\u00a0 Stanbic\u00a0 IBTC and Mr Alex Otti of Diamond Bank.<\/p>\n<\/div>\n

Comments are moderated. Please keep them clean and brief.<\/p>\n<\/p>\n

Read more:
\nCBN: Court injunctions can\u2019t stop banking reform<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0By FAVOUR NNABUGWU ABUJA -The Central Bank of Nigeria,CBN, yesterday, said that the pilot project for the N150,000 cash limit will begin from Lagos in December. 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The\u00a0 apex bank said it will take steps to vacate court injunctions restraining it from presiding over the sale of rescued banks, stating that it will not be frustrated by such injunctions from any of the eight rescued banks\u2019 shareholders in its bid to ensure full recapitalisation of the banks or their liquidation, in extreme cases.\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/06\/08\/cbn-court-injunctions-cant-stop-banking-reform\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/06\/08\/cbn-court-injunctions-cant-stop-banking-reform\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"CBN: Court injunctions can\u2019t stop banking reform\",\"datePublished\":\"2011-06-08T03:00:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/06\/08\/cbn-court-injunctions-cant-stop-banking-reform\/\"},\"wordCount\":238,\"commentCount\":0,\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/06\/08\/cbn-court-injunctions-cant-stop-banking-reform\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/06\/08\/cbn-court-injunctions-cant-stop-banking-reform\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/06\/08\/cbn-court-injunctions-cant-stop-banking-reform\/\",\"name\":\"CBN: Court injunctions can\u2019t stop banking reform - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\"},\"datePublished\":\"2011-06-08T03:00:39+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/06\/08\/cbn-court-injunctions-cant-stop-banking-reform\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"CBN: Court injunctions can\u2019t stop banking reform - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/06\/08\/cbn-court-injunctions-cant-stop-banking-reform\/","twitter_card":"summary_large_image","twitter_title":"CBN: Court injunctions can\u2019t stop banking reform - Ghanamma.com","twitter_description":"\u00a0By FAVOUR NNABUGWU ABUJA -The Central Bank of Nigeria,CBN, yesterday, said that the pilot project for the N150,000 cash limit will begin from Lagos in December. 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