Continental Ambitions-Nigerian Banks

Nigerian Banks are steadily transforming themselves into regional powerhouses, the Punch reports:

Quoting Charles Soludo(Nigerian Central Bank Governor)...the expansion of Nigerian banks into the economies of other West African countries "is just a natural way to manage the huge funds at their disposal"...This is largely because, virtually all the banks that accessed the capital market in 2007 recorded an over-subscription of their shares,and consequently a overly cash heavy balance sheet which had to be managed profitably.

Nigeria's banking reforms are now perceived as the benchmark across the region.