Some members of the Nigerian banking community have expressed their worry over the failure of the owners of Savannah Bank to open up for business more than three years after its operating licence was returned via a court order. At the beginning of the year, there were reports that the failure of the core investors to fully recapitalise the bank to the N25bn minimum share capital requirement is a major reason for its inability to reopen for business. The Central Bank of Nigeria had closed down SBN in 2002, citing infringements and non-compliance with banking laws by the management of the bank as reasons for its action. However, after a protracted legal battle, the Court of Appeal sitting in Abuja and presided over by Justice U. M. Abba 'aji, on February 5, 2009 , ordered that the operating licence of the bank be reinstated. But the million-dollar question is- for how long with the bank's depositors wait?
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