SUDAN WATCH: Nile Commercial Bank has been temporarily closed

Tuesday, May 05, 2009

Nile Commercial Bank has been temporarily closed

From Sudan Radio Service 30 April 2009 (Juba):
The branch manager of the Nile Commercial Bank in Juba has refuted media reports that the Government of Southern Sudan suspended her.

The Sudan Tribune website reported that Martha Michya had been suspended by the Government of Southern Sudan for allegedly accusing senior government officials for failing to pay back loans that they had borrowed.

Speaking to Sudan Radio Service from Juba on Thursday, Martha Michya said the report was untrue.

[Martha Michya]: “No, I was not suspended by the government. I work in Nile Commercial Bank. I was suspended by my office and not by the legislative assembly. They got the report from Sudan Tribune about me, and the office suspended me about it without any investigation. It’s not because of my work but because of what was written in Sudan Tribune.”

Nile Commercial Bank has been temporarily closed.

Speaking to Sudan Radio Service last week, a member of the board of directors of the bank attributed its closure to bankruptcy caused by outstanding loans and the bank’s rapid expansion within a year.

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