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Article: Nigerian shake-up not yet complete.(survey of bank sector)
- Article from:
- African Business
- Article date:
- November 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Nigeria dominates our table of the Top 30 West African banks more completely than the far larger South African banking sector is able to dominate its equivalent survey.
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Incredibly, the first 19 places in the regional table are filled by Nigerian institutions, with the rest of West Africa apparently left to pick up the crumbs. Yet these results are a sign both of Nigeria's strength and its weakness. It may possess the largest banking sector in the region and the largest financial institutions, but such a large number of banks, in what is still a fairly limited economy, is certainly a sign of weakness.
Thankfully, the ...