As the two largest economies in West Africa, the relationship between Nigeria and Ghana is a crucial one for the region. Trade ties are particularly important, and Nigeria’s high levels of liquidity serve as an important source of capital for Ghana. However, a recent dispute between the two countries concerning the status of Nigerian traders in...
Its demographics, low banking penetration and rapid economic growth relative to developed markets should make Nigeria fertile ground for financial services. Yet although the continent’s most populous nation also boasts some of its largest banks by assets, just 21% of its population of about 165m is banked, according to a 2011 study by the Central...
Although depressed growth in developed economies has added a level of uncertainty to Nigeria’s macroeconomic outlook, it has also contributed to its attractiveness. As one of the fastest-growing economies in the world, according to the Federal Ministry of Finance (FMF), the country is certainly appealing to foreign investors in large part due to its...
While the economy of Nigeria remains largely cash-based, a concerted push is under way to reduce inefficient cash transactions. According to the Central Bank of Nigeria (CBN), excessive currency in circulation has undermined its efforts to ensure price stability. Moreover, high costs associated with currency sorting, cash management, transport and...
With its large and growing population – estimated by IMF to reach around 165m in 2012 – and extensive hydrocarbons resources, Nigeria holds significant political power in the region and on the international stage. However, maintaining stability within this diverse country of around 250 ethnic groups remains an enormous challenge for the country’...
Following the August 2011 acquisition of three so-called bridge banks by the Asset Management Corporation of Nigeria (AMCON), the federal government now finds itself the largest single owner of bank stock in the country. With foreign investors and mid-tier domestic banks having expressed interest in purchasing these formerly distressed assets, AMCON...
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