Despite a tough 2020 driven by shocks from the global coronavirus pandemic that crippled most economies, the Nigerian Central Bank says it sees a “broad improvement in all banking system parameters, despite the downside risks posed by the pandemic to the smooth running of businesses,” according to Governor Godwin Emefiele, during the September monetary policy committee briefing in Abuja, the nation’s capital.
Last year, the difficult macroeconomic environment made the attainment of financial targets very difficult for several banks, including Access Bank, Nigeria’s biggest lender, according to its chairperson, Dr. Ajoritsedere Awosika.
There's more to this story
Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Africa. Unlocked.
Already a a subscriber Sign In
Also in this in Depth:
ready for take offCongo-Brazzaville, Kenya, Senegal…Africa’s airports must modernise Online check-in, priority queues, lounges, connectivity issues…to reduce passenger waiting times and grow, the continent’s airports are slowly modernising.
failed networksCamtel, Orange, MTN, Nexttel… Cameroon’s telecoms watchdog doles out fines For the first time since 2019, the regulatory agency has imposed a fine – totalling $9.7m – on Cameroon’s three main telecoms providers.
More or less borrowing?Five questions on Kenya’s new debt policy As Kenya prepares to table the final budget for the upcoming fiscal year beginning next July, there are adjacent hasty plans to get parliament to change the East African country’s debt ceiling policy.