U.S. investor seeks to stop sale of Nigerian bank Mainstreet

Mustafa Chike-Obi, MD/CEO, Asset Management Corporation of Nigeria (AMCON)

A U.S. court has summoned representatives of a body set up to manage Nigeria‘s rescued banks in a dispute with U.S. financial firm Intangis Holdings, which says Nigeria has ignored its right to buy one of the nationalised lenders.

Intangis wants the court to enforce its claim over Afribank, which was nationalised in 2010 and renamed Mainstreet Bank after coming close to collapse.

Read more: U.S. investor seeks to stop sale of Nigerian bank Mainstreet | Reuters.

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