It’s jail, not NAMA, for Nigerian bankers over debts

IN Africa everything bites, especially when it comes to measures dealing with the tycoon terrorists who have crippled Nigeria’s banks.

Instead of a highly bureaucratic NAMA-type approach to its financial woes, the Nigerian central bank has applied the wisdom of a popular local saying – “one goat cannot carry another’s tail”.

Some of the country’s richest businesspeople and bankers, among a central bank hit list of 200, have been told to clear their debts or go to jail.