Last updated: 19 august, 2009 - 16:15 GMT

Nigeria

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It reads like a list of Nigeria's rich and famous, but according to the country's Central Bank, these are the people to blame for the crisis facing Nigeria's banking sector.

The list includes well-connected individuals and companies who are thought to have used their positions to obtain loans totalling more than $4.5 billion.

And, says the Central Bank, these loans have been looking increasingly toxic.

Yesterday the country's anti-graft agency took into custody some of the bank bosses sacked by the Central Bank last week and is still looking for the others.

From Abuja, Focus on Africa's Chris Ewokor reports.

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