Nigerian Banks are steadily transforming themselves into regional powerhouses, the Punch reports:
Quoting Charles Soludo(Nigerian Central Bank Governor)...the expansion of Nigerian banks into the economies of other West African countries "is just a natural way to manage the huge funds at their disposal"...This is largely because, virtually all the banks that accessed the capital market in 2007 recorded an over-subscription of their shares,and consequently a overly cash heavy balance sheet which had to be managed profitably.Nigeria's banking reforms are now perceived as the benchmark across the region.
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