By Blaise Udunze Nigeria’s banking industry appears to be booming, largely driven by the policies of the Central Bank of Nigeria (CBN), under Governor Olayemi Cardoso, while the real economy continues to suffocate. At a time when millions of Nigerians are sinking deeper into poverty, when inflation continues to erode household incomes, when businesses are collapsing under unbearable operating costs, and when migration has become a survival strategy for many young professionals, Nigerian banks are announcing staggering profits, stronger capital positions and unprecedented liquidity growth. According to the bank’s financial…
Read MoreNIGERIA’S BOOMING BANKS AND A COLLAPSING ECONOMY
