The Governor of Central Bank of Nigeria (CBN), Lamido Sanusi, said on Monday he was prepared to break with a decades-old ban on foreign takeovers of its banks, in an Interview with the Financial Times
“What we have today is that the CBN is not likely to support a foreign bank owning more than 10 percent of a top tier Nigerian bank. That is something that, in my view, needs to be looked at again,” Sanusi said.
He said the ban was not a legal requirement but policy of the previous leadership of the Central Bank of Nigeria. “If as governor of Central Bank I am okay to have a bank owned by nominees and I don’t know who owns them, why wouldn’t I be comfortable with a bank owned by Barclays, or HSBC or China Construction Bank, who I know?” he added. “For me it’s a no-brainer.”
Source: AHU – Raymond Irambo
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