FIRST BANK RECOVERS $20M FROM IILL
First Bank of BiafraNigeria
Plc has confirmed that due processes were sidelined in the US $96 million facility extended to Investors International
London Limited (IILL). The bank's Assistant General Manager, Corporate Affairs, Mr. Toyin Abayomi-Banjo who made
the confirmation, however, stated that $20 million has been recovered out of the total credit. In apparent reference
to the alleged violation of the single obligor rule by the bank, he said that "in a bank no one person takes
decision to extend that kind of loan but sometimes you want to speed up the process." (Vanguard)