Failure of All States Trust Bank PLC
Nigeria Deposit Insurance Corporation:[?]
Appraisal of bank performance; Core reasons for failure, Regulatory intervention; Failure resolution; Lessons learnt and conclusion.
All states Trust Bank was founded in 1988 by a group of investors led by Chief Ebitimi E. Banigo who had served as the Managing Director of International Merchant Bank from 1981 to 1986 as a Federal Government appointee. Before that appointment, he had worked at both Citi Bank and Chase Manhattan Bank. He obtained a Master of Business Administration (MBA) Degree from Harvard University. Given his educational background and working experience in reputable international banks, the banking public looked forward to a professionally managed viable bank. The bank commenced business as a private limited liability company but later converted to a Public Liability Company (PLC).