Banking

Nigeria Banking

Against the backdrop of a slowing economy and low oil prices, the Nigerian banking sector – filled with heavyweight regional players and the largest sector on the Nigerian Stock Exchange – has sought to play an increasingly important intermediary role, facilitating efforts to diversify the economy by expanding private sector credit and lending to small and medium-sized enterprises. However, macroeconomic conditions, including a depreciating currency and changes to the government’s fiscal policy, are impacting the ability of banks to deploy capital in the real economy. Furthermore, the Central Bank of Nigeria has unveiled a number of plans to tighten the risk management of the sector and further reduce the exposure of banks to government debt, all of which could herald significant changes to the competitive landscape.

This chapter contains an interview with Godwin Emefiele, Governor, Central Bank of Nigeria; and a roundtable with Peter Amangbo, Group Managing Director, Zenith Bank; Uzoma Dozie, Managing Director, Diamond Bank; and Herbert Wigwe, Group Managing Director, Access Bank; and Adesola Adeduntan, Managing Director and CEO, First Bank.

Previous chapter from this report:
Economy, from The Report: Nigeria 2016
First article from this chapter and report:
Lending to the Nigerian private sector increases
Cover of The Report: Nigeria 2016

The Report

This chapter is from the Nigeria 2016 report. Explore other chapters from this report.

Interviews & Viewpoints

Sketch of Godwin Emefiele, Governor, Central Bank of Nigeria (CBN)
Godwin Emefiele, Governor, Central Bank of Nigeria (CBN): Interview