Only a handful of foreign banks have a presence in Nigeria but as the its economy grows rapidly, more international banks are considering the opportunities the country offers.

Nigerian banks are ignoring small businesses and, without a formal microlending industry, the prospects of this changing are bleak. Stuart Theobald reports.

With 84% of money in circulation outside the banking system, banks have little impact on Nigeria’s population, providing few consumer retail services and virtually no consumer lending.

Nigerian banks are improving their corporate and investment banking capabilities but there is still some way to go, writes Stuart Theobald.

In the post-consolidation era, stronger capitalisation of the banks will result in stiffer competition. Stuart Theobald sizes up the players, old and new.

Central bank governor Charles Soludo has overseen a massive consolidation of the banking sector but that is only the start of his reform plan, says James Eedes.

The overhaul of the banking system is the latest reform milestone crossed by the Obasanjo government. Although many challenges lie ahead, the momentum of reform is gathering pace, promising long-lasting transformation, writes James Eedes.

Poverty and conflict still dog African countries. But signs of a change of perspective by developed nations, plus reform and new initiatives within Africa could provide reasons for new confidence, James Eedes reports.

African economies are improving but they, and the rest of the world, must keep their eye on the target, African Development Bank president Omar Kabbaj tells James Eedes.

Much analysis of Africa fails to take into account the differences between its 53 countries.