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Skip Navigation LinksHome :: Central bank of Nigeria governor: Nigeria’s banks back on their feet, says Sanusi

Wednesday, July 28, 2010

Central bank of Nigeria governor: Nigeria’s banks back on their feet, says Sanusi


Nigeria’s banking system is getting back on its feet a year after nine banks were forced to remove their management for failing an audit, according to the man who enforced the changes.


By Nick Kochan and Charles Hardwick  


Lamido Sanusi, Nigeria’s central bank governor, says that the affected banks are turning their businesses around and are now seeking capital injections from investors. “These banks were on the brink of collapse and they’ve been kept afloat by a combination of funds from central bank and a very good management. They have cut down costs, they have returned the banks to profitability and they are engaging potential partners and are looking for investors. In the circumstances and given the global situation, they have done very well,” Sanusi tells Euromoney in an exclusive interview.
 

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