As in any other nation, banks and financing is a very important aspect when, for economic development. Before entering the topic, it is important that the fact that Nigeria is an emerging market and the banking system worthy of note is a key factor in a state of living.
The Central Bank of Nigeria
In the case of Nigeria, the most important institution, which is the delivery of the naira currency, the Central Bank of Nigeria, established in 1958 on the basis of controlsOn the law CBN. The goals changed the Central Bank of Nigeria, over time, but today because of the use of capitalization, the banking system has been improved and recovered his strength.
Furthermore, recent improvements in the banking system are also the result of rising oil prices. And 'know that Nigeria is a large distribution of oil in the United States and the application of appropriate financial targets, the entire nation, something has to win - but especially a greater chance of betterLife. The Central Bank of Nigeria enjoyed a great success over the last 2 years because of these trade agreements and for the Nigerian people.
Nigeria Economy
Furthermore, the results of the World Bank, Nigeria's GDP nearly doubled from 2005 to 2007, reaching $ 1,754 per capita in 2007. This is an important result for the economic development of an emerging market like Nigeria. Similarly, it is also a sign that Nigeria is effectively and efficiently with the currentResources, because it is the first biggest oil producer in the world 12.
In addition to the oil industry in Nigeria, there is also a rapidly growing market for telecommunications, which competes globally with other major operators. To maximize performance of the telecommunications sector, the Nigerian government to fight to expand the area of communication, because the nation already has its satellite space.
Best Nigerian banks
Although Nigeria is an emergingMarket, offers a well-developed financial system of local and international financial institutions, brokers, insurance, investments, but also to finance are linked.
In recent years, there are many small banks in Nigeria, which was this delicate, bank fraud and other irregularities. Therefore, to provide reliable financial services, the solution was to carry out mergers. In this way, decreased the number of banks available, but thosehad been a better capital structure and were not reliable. The current Nigerian banks are offering loans with longer terms than before the merger, and this is an important aspect when it comes to funding for local projects.
Surprisingly or not, as of 2006, has the financial sector in Nigeria, the success and recognition worldwide, as many banks in Nigeria have reached the list of the top 1,000 banks in the world. Within this context, the best banks in Nigerialisted in this report are as follows:
. Erste Bank
. Zenith Bank
. Union Bank
. Guaranty Trust Bank
. First inland Bank
. Intercontinental Bank.
In summary, from an economic standpoint and a financial point of view, Nigeria is rapidly approaching middle-income, and this will lead to a better state of life and investment in the nation.
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