Nigeria bank boss held by police

Abuja, 27 Aug-(ANA)-A former Nigerian bank boss being sought by the country's anti-corruption police has turned herself in.

Cecilia Ibru, who the central bank sacked from her chief executive position at Oceanic Bank on 14 August, had been sought for three days.

She is now due to be questioned on suspicion of fraud, insider trading and money-laundering.

Ms Ibru and other bank bosses were sacked after the central bank had to come to the rescue of five lenders.

The Central Bank of Nigeria has to inject a total of 400bn naira ($2.6bn; £1.6bn) into the banks - Afribank, Intercontinental Bank, Finbank, Oceanic Bank and Union Bank - after all were found to have seriously low cash reserves because of a series of bad loans.

Fifteen other chief executives at the banks are already being questioned by police, following the expiry of a deadline for many of the loans in question to be repaid. (ANA)

FA/ANA/27 August 2009---