| The stakes are high in Nigeria’s banking recapitalisation play. Some banks are immersed sundry “financial engineering” to comply with the Nigerian Central Bank’s (CBN’s) unusual definition of capital; Nova Bank has chosen a path that tracks least resistance - or easy survival. As the wind swung through the Kofo Abayomi head office of erstwhile merchant bank, Chairman Philips Oduoza, once at the helm at top-tiered United Bank for Africa, paced around his glass-enclose office, |
