The BBC reports:
Nigeria's banking sector has only been open to international trade of wholesale debt for a short time, and so its exposure to the global credit crisis is limited.But last year, just as banks were waking up to their problems in the US, Nigerian investors rode a rapidly expanding stock bubble as the value of shares went through the roof.Money being counted in Nigeria in July 2008 Some shares doubled in value in a matter of week.s Now the bubble has burst and the stock values have reduced to a saner level, but some people have been burned by their experience...[continue reading]
photo courtesy of the BBC
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