A fragile sector

Published: 04 October, 2004

• Order reprint

Barely a month in the job, new Central Bank of Nigeria governor Charles Soludo has thrown down the gauntlet to the country’s banks. By demanding a huge hike in minimum capital requirements, Mr Soludo is forcing the weak and fragmented industry to consolidate, in a move that he insists will result in a stronger banking system that plays a more active role in economic development.