Failure of Assurance Bank Nigeria limited
Nigeria Deposit Insurance Corporation (NDIC)
Introduction; Overview of bank performance; Regulatory intervention; Core reasons for failure; Failure resolution; Lessons learnt and conclusion
The scope of this case study is limited to the short lifespan (November 2002 to January 2006) under its new acquirers. Issues predating the acquisition by new investors are not covered by this study. 2 The rest of this study has been organized into 4 Sections. Section 2 provides an overview of the bank’s performance while Section 3 highlights the core reasons for its failure. Section 4 focuses on failure resolution while Section 5 provides some learning points and conclusion.