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AfricaMarch 6 2020

FirstBank CEO views Nigeria future with optimism

Adesola Adeduntan, CEO of First Bank of Nigeria, talks to John Everington about the central bank’s edict on cutting charges, the subsequent outlook for consolidation in the sector, and whether payment service banks present a threat.
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Q: What is your outlook for Nigeria’s banking sector in 2020?

A: For the banking industry in Nigeria, 2019 was a very difficult year, albeit better than 2018. There are already signs that 2020 will be a better year than 2019, as there have already been some positive developments.

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John Everington is the Middle East and Africa editor. Prior to joining The Banker, John was the deputy business editor of The National in the UAE, and has also worked for Dealreporter, Arab News and The Telegraph. He has also covered the telecom sector in Africa and the Middle East, living and working in Qatar and the UK. John has a BA in Arabic and History and an MA in Middle Eastern Studies from the School of Oriental and African Studies (SOAS) in London.
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