Bank revokes licences of Afribank, Spring Bank, and BankPHB

Central Bank of Nigeria (CBN) has revoked the operating licences of Afribank, Spring Bank,and BankPHB, as they have not shown capacity and ability to recapitalise before the September 30 deadline.

Also effective of 5th of August, 2011. Bank PHB Plc becomes Keystone Bank Limited. Keystone Bank will continue the operations of the Bank PHB.