Nigeria has revitalised its banks following their crisis two years ago. They are now far healthier and are once again making strong profits. But the shake up of the industry will continue for a while yet, as the affects of recent consolidation – including the creation of two new top tier banks – begin to be felt.
Africa
Latest articles from Nigeria
Nigeria's Okonjo-Iweala vows to reform country's economy
October 3, 2011Ngozi Okonjo-Iweala’s recent appointment as Nigeria’s economic tsar has led to high expectations that the country can finally start to fulfil its vast potential. But, despite her intellect, boundless energy and standing among investors, the task is a daunting one.
Can Nigeria's new government lead it to prosperity?
October 3, 2011Nobody knows how many billions of dollars have been squandered by Nigerian officials since the country’s independence in 1960. By even the most conservative estimates, however, the scale of graft and bad governance has been staggering, meaning that Nigeria is still far from fulfilling its great economic potential.
New leadership prompts high hopes for change in Nigeria
October 3, 2011Mismanagement and corruption have stifled Nigeria's economy for decades. But this year’s elections have given hope that its leaders will finally embark on the deep reforms needed to modernise the resource-rich country and enable it to finally fulfil its vast potential.
Amcon bears the burden of Nigeria's troubled banks
October 3, 2011By taking on their non-performing loans, Nigeria’s state-owned bank, Amcon, has played a pivotal role in ensuring that the country’s banks are up and running again just two years after their crisis. However, its chief executive is keen to stress that its work is far from over.
Afren’s high yield bond attracts energy and emerging market investors
May 4, 2011Afren's high-yield bond issue earlier this year attracted interest from emerging market investors as well as specialist energy players, two investor groups who rarely overlap in the bond markets.
Nigeria's central bank governor tackles reform head on
March 15, 2011Nigeria's central bank governor Lamido Sanusi is The Banker's Central Bank Governor of the Year for 2011, both globally and for Africa. He explains his latest thinking on the reform agenda for Nigerian banking.
Central Bank Governor of the Year 2011
December 23, 2010In the 18 months that he has been in office, Lamido Sanusi has salvaged a crumbling financial sector, taken on Nigeria's powerful and corrupt bank managers and initiated reforms that have put Africa's most promising market back on the map for investors.
Nigeria's banks must reform
August 30, 2010Nigeria's banking sector is undergoing a series of changes aimed at overcoming the mistakes of the past. Writer Daniel Maalo
Building on more stable ground
August 30, 2010Fluctuations in oil prices have almost spelt catastrophe for Nigeria over the past year. The future of the country's oil industry now looks more secure, but the lessons of the past year have emphasised how important it is for Nigeria to strengthen its non-oil economy. Writer Daniel Maalo