TO ALL OUR  CUSTOMERS

Our attention has been drawn to an announcement on Channels Television station, Tuesday night, that Mainstreet Bank Limited has been restrained from dealing with the assets and business  of the defunct Afribank Nigeria Plc, by an order of the Federal High Court. No writ of summons has been served on the bank, let alone any order of the nature mentioned.

The depositors of the bank and the general public should thus note that the bank will carry on business as usual as there is no order against it. The bank is certain that no order was made ex parte requiring the bank to shut its doors to millions of our Depositors and Customers.

We wish to assure all our Customers that our over 200 Branches Nationwide are open for full banking business as usual. Banking operations will carry on as usual and the public should disregard any statement or statements that the bank has been restrained from carrying on business.

We thank you all for your valued  patronage.

Signed Management

CBN GUARANTEE EXTENDED TO DECEMBER 2011 FOR MAINSTREET BANK LIMITED (PREVIOUSLY AFRIBANK)

Effective Friday, August 5, 2011 Afribank Nigeria Plc became Mainstreet Bank Limited. This step which will help enhance the smooth operations of the company will also ensure that the recapitalization process will be concluded ahead of the September 30, 2011 deadline given by the Central Bank of Nigeria.

Mainstreet Bank has taken over all the deposits, liabilities and assets of Afribank since August 5, 2011.

Management explained that in the change of Afribank to Mainstreet Bank Limited, the bank remains a going concern. The bridge bank (MBL) will continue to operate normally and discharge its obligations to all the stakeholders without disruption. All the business locations and service points of the bank remain open to the banking public during normal business hours as the Bank is in a good position to meet all its obligations.

Customers and the general public are assured that their deposits are safe and accessible as the bank is mainly undergoing a process on the road to successful recapitalization.

Management and CBN have assured customers that no depositor will loose from transacting business with the bank.

The Nigeria Deposit Insurance Corporation (NDIC) intervention and creation of Mainstreet Bank provides for the stabilization of the bank and will allow for continuing operations with no disruption. The NDIC intervention results in the protection of all depositors, as Mainstreet Bank will continue to enjoy the CBN guarantee for depositors and creditors. The CBN guarantee for Mainstreet Bank has been extended to December 2011.