The Nigerian Stock Exchange (NSE) has been underperforming despite the recent intervention by the Central Bank of Nigeria (CBN).
There are also plans by the CBN to set up an asset management company (AMC) to help with toxic loans with the banks. See recent interview with CBN Governor Lamido Sanusi regarding AMC.
Stanbic IBTC’s two new fixed income funds are the Stanbic IBTC Money Market Fund and the Stanbic IBTC Bond Fund.
Read more on Banking in Nigeria
Source(s): CNBC Africa
A CNN interview with Lamido Sanusi, Governor of the Central Bank of Nigeria (CBN), regarding his plans to clean up the Nigerian banking sector. Read the rest of this entry »
An interview with First Bank of Nigeria’s CEO at the time (and now Governor of the Central Bank of Nigeria), Lamido Sanusi, and Quintin Primo, Co-Founder of Capri Capital Partners
One interesting point that Mr. Sanusi makes is that in Nigeria, “credit has grown over 100% in the last year”, in spite of the global credit crunch. With regards to access to credit for small business, Mr. Lamido points out that, although there is, in principle, a commitment to providing such credit, Nigeria faces a number of institutional bottlenecks. Firstly, there is a lack of credit bureaus in Nigeria, with the consequent dearth of information on borrowers. Secondly, small investors in Nigeria have to deal with the lack of sufficient power and infrastructure.
A few quick points about First Bank of Nigeria:
