Archive for "Eastern Caribbean Central Bank"

WORLD: Four Die in Nigerian Muslim-Christian Fighting; Caribbean Bank Takes Over Stanford Bank

February 23rd, 2009

Four Die in Nigerian Muslim-Christian Fighting
In Nigeria, disagreements between Muslim and Christian communities led to violent clashes, in which four were killed and 28 injured, reports the BBC. The fighting happened in the city of Bauchi, which is in the northern part of the West African nation. Mosques and churches were set ablaze during the fighting. Nigerian troops rapidly descended on the scene to control the situation. “The security agencies have been directed to deal decisively with the perpetrators of this mayhem,” Bauchi Gov. Isa Yuguda said. “The military has been drafted in now, and everything is coming back to normal,” a Bauchi resident told Reuters. Unfortunately, this area isn’t a stranger to violence of this sort. Last year, hundreds were killed in the nearby city of Jos by religious gangs. But, as a whole, Nigeria’s Muslims and Christians generally coexist peacefully. The nation’s population is split almost evenly between the two religious groups, reports the BBC.
Caribbean Bank Takes Over Stanford Bank
When American financier, Sir Allen Stanford was accused of fraud, depositors from his Antigua-based bank rushed to withdraw their funds, reports the BBC. Now, the Eastern Caribbean Central Bank (ECCB) has decided to take over one of Stanford’s banks, the Bank of Antigua, to stop its downfall. In a statement, the ECCB said it “will take exclusive custody, control and possession of the funds, assets and other property of the Bank of Antigua.” The Bank also said it would “raise or borrow money that may be required” to make sure the bank survives. Sanford, who was knighted by the Caribbean island nation, is being investigated by U.S. authorities for the way his bank, Sanford International Bank Ltd, managed $8 billion.

  • SEND TO A FRIEND
  • Digg It
  • Delicious