October 12, 2016/Reuters

Nigeria’s banks have very strong capital buffers to weather the country’s economic crisis, the central bank’s director of banking supervision said on Wednesday.

Tokunbo Martins, speaking at a press conference after a meeting with the heads of the country’s banks, also said the supply of foreign exchange for manufacturers will be improved.

Nigeria, which has Africa’s biggest economy, is in recession as a slump in vital oil revenues has hammered public finances and the currency, driving up the prices of imported goods.

(Reporting by Ulf Laessing; Writing by Alexis Akwagyiram; Editing by Toby Chopra)