NIGERIA Deposit Insurance Corporation NDICPARTNERSHIPS Management Consultancy & Financial Advisory2023-05-102023-05-102022https://nigeriareposit.nln.gov.ng/handle/20.500.14186/619On 16 January 2006 the Central Bank of Nigeria revoked the license of Metropolitan Bank for its failure to meet the minimum capital requirement for banks operating in Nigeria set at NGN25,000,000,000 (twenty five billion naira) by the deadline of 31 December 2005. This revocation order was challenged by the Board and Management of Metropolitan bank.Prior to the closure of the bank, the Central Bank of Nigeria had on the recommendation of the Nigeria Deposit Insurance Corporation, removed the erstwhile Management of the bank and constituted an Interim Management Committee [IMC] to assume the control of the affairs of the bank.The Closure; Background; Review of Issues; Operations; Risk Assets; Financial Malpractice; ConclusionenArticle