07.22.2010  Standard Bank Group Ltd, Africa’s largest bank, and two South African rivals may still be interested in buying stakes in distressed Nigerian banks after the sale drew closer this week.According to Bloomberg News, Standard Bank, the Johannesburg-based bank with operations in 17 African countries including Nigeria, is […]
Author: InvestAdvocate
IFC to Invest $170m in FCMB
By Emele Onu, 07.22.2010  The International Finance Corporation (IFC) is to invest $170 million in First City Monument Bank (FCMB), a move the bank said is strategic for its next expansion programme.Managing Director and Chief Executive of the bank, Mr Ladi Balogun, said of the total fund, the […]
Banks, CBN Plan N1.5trn Fund to Acquire Bad Debts
From James Emejo in Abuja, 07.22.2010  Banks and the Central Bank of Nigeria (CBN) yesterday, in Abuja, unanimously agreed to contribute N1.5 trillion (about $10 billion) over the next 10 years to fund the newly established Asset Management Corporation of Nigeria (AMCON) set up to buy bad debts […]
