Angola has opened an investigation into the conduct of the management at the local unit of failed Portuguese bank Banco Espirito Santo, Attorney General Joao Maria de Sousa said on Wednesday.
Government probes management at local unit of failed Portuguese bank: official
Banco Espirito Santo (BES) collapsed in 2014 under the weight of its founding family's debts and exposure to bad loans in Angola.
Portugal's Novo Banco was carved out as the "good bank" from BES, while its Angolan unit Banco Espirito Santo Angola (BESA) was reincarnated as Banco Economico, with new shareholders including state oil company Sonangol.
"We have opened an inquiry on Banco Espirito Santo Angola management. This inquiry was an initiative of the bank shareholders," de Sousa told reporters.
"I can not talk about the possibility of arrests in this process because I don't know the facts."
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Comparing comprehensive vs third-party auto insurance in Nigeria
Kaduna Speaker to El-Rufai's son: Your threat won't stop us from probing your father
Makinde demolishes building where Yoruba Nation agitators operate from
APC chieftain, Lukman faults NWC for backing Ganduje over suspension
EFCC gets permission to drag ex-governor Yahaya Bello to court tomorrow
Court stops EFCC from arresting Yahaya Bello hours after agents surrounded his house
Tinubu hails Dangote's diesel price cut, expects economic boost
'Is this relevant?' - Nigerians react as Gov Adeleke signs bill for new Osun State logo
Why donated blood is not free for patients
Pulse Sports
Lionel Messi's son breaks the internet after scoring five goals for Inter Miami
Naija Stars Abroad: Onyedika, Boniface, and Osimhen shine across Europe
Victor Osimhen and Tobi Amusan make list of Forbes’ 30 under 30 Class of 2024
Alex Iwobi makes Premier League history which Mikel, Yakubu, Kanu could not achieve
Like Michael Jordan - Details of Victor Osimhen’s ‘superhuman’ jump against Monza emerges
ADVERTISEMENT