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Govt to sell new banks after three years

Nigeria Guardian News: "LIFESPAN for the new management of the three banks acquired by the Federal Government at the weekend has been fixed by Asset Management Corporation of Nigeria (AMCON).

Without any future tinkering with the new arrangement, the new boards of directors appointed for the banks on Sunday by the government will take a bow after three years for the new investors to take over their ownership. The banks are Keystone Bank Limited (former Bank PHB), Mainstreet Bank Limited (Afribank), and Enterprise Bank Limited (Spring Bank). They were bought over by AMCON last weekend.

AMCON’s Managing Director and Chief Executive Officer (MD/CEO), Mustapha Chike-Obi, unveiled the plan yesterday in an interview on CNBC Africa monitored by The Guardian in Lagos."

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Court frees boy prisoner

The Namibian Newspaper: "THE High Court yesterday ordered the immediate release of a 12-year-old boy who became Namibia's youngest sentenced prison inmate after receiving a six-month jail term for housebreaking and theft at Karasburg in October.

In a review judgement handed down by Judge Elton Hoff, Acting Judge Claus Hinrichsen set aside the boy's conviction and sentence and ordered his immediate release from detention.

Judge Hoff agreed with Acting Judge Hinrichsen's decision, which was based on the principle that a child as young as the boy is presumed not to be criminally liable, especially where he had been involved in a crime while under the influence and instructions of a much older person.
The boy was sentenced to six months' imprisonment on October 19, after he had been convicted in the Karasburg Magistrate's Court on a charge of housebreaking with intent to steal and theft."