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Tuesday 24 September 2013

Nigeria's Central bank says Kakawa, Associated Discount Houses in good shape


Nigerian central bank on Tuesday gave a clean bills of health to two major discount houses, Kakawa and Associated, but said issues bordering on misstatement of accounts is being investigated at the consolidated Discount house.
CBN governor, Lamido Sanusi said at the post MPC conference that central ban's investigators are combing the books of consolidated Discount house and would announce the result of the investigations at the appropriate time.
The bank had two months ago liquidated Express Discount House as a result of what it said was falsification of accounts and the inability of its shareholders to take necessary measure to rescue the firm.

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