Embattled Trustco courts more controversy
Last week, Trustco went to court to stave off attempts by Nigeria's central bank to set aside directives issued against Trustco Bank
Trustco, the embattled Namibian investment company, is courting another controversy — this time involving its loss-making banking subsidiary.
Last week, Trustco — which also holds diamond mining interests, property, insurance and private education assets — went to court to stave off attempts by the Bank of Namibia (BON) — the central bank of Namibia — to set aside directives issued against Trustco Bank. The directives include immediately ceasing deposit taking and discontinuing the extension of credit...
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