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Vol 49 No 22

Published 31st October 2008


Nigeria's banks: double or quits

Nigerian visitors to London’s Heathrow Airport are pleasantly surprised to see billboards publicising one or another of their country’s biggest banks. Many of the taxis operating out of Heathrow now carry adverts for one of the six Nigerian banks that have representative offices in London and elsewhere in Europe. That, along with the ability of Guaranty Trust Bank to raise a $350 million Eurobond at competitive rates just six months before the April 2007 elections, shows the new dynamism in Nigeria’s financial sector.

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