Nigerian banks have been posting huge profits in recent months, but their contribution to Nigeria’s GDP pales in comparison to telecoms. While banks add 3%, telecoms adds 16% to national output.
But there is room for banks to improve, Ebenezer Onyeagwu, CEO of Zenith Bank Plc and the chairman of the Body of Bank CEOs tells The Africa Report. He argues that less regulation is needed for the financial sector to compete.
There’s more to this story
Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Africa. Unlocked.
Already a a subscriber