Connect with us

Implication of Falling of Crude Oil Prize: 6 Nigerian Banks Sets to Merge in 2016

Technology & Business

Implication of Falling of Crude Oil Prize: 6 Nigerian Banks Sets to Merge in 2016

Working Class Africa

Implication of Falling of Crude Oil Prize: 6 Nigerian Banks Sets to Merge in 2016

The horrible shocking falling of crude oil in international market from $110 per barrel a year ago to $37.11 per barrel today is really affecting Nigeria economy despite ranked as largest economy in Africa.

According to report by Citizen, reported that 6 banks are planing to merge and acquisitions in the New Year.

The fallen of crude oil in international market has really affect the banks ” oil assets. Besides, the level of non-performing loans in the sector has risen.” According to report, Managing Director, Sterling Bank Plc, Yemi Adeola, revealed the news yesterday, reportedly stating that he envisaged possible shrinking in the number of local banks in the New Year.

However, he didn’t name any banks that may be involved in the merger.

Photo Credit: Dreamstime/Kadettmann

Related Posts Plugin for WordPress, Blogger...

Comments

comments

READ  #SocialLender : Are You in Need of Cash? Social Lender Gives You Access to Soft Loan Based on Your Social Media Reputation
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

*

* Copy This Password *

* Type Or Paste Password Here *

189,550 Spam Comments Blocked so far by Spam Free Wordpress

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.

More in Technology & Business

Advertisement

Popular Posts

Facebook

Follow me on Twitter

Advertisement
Loading...
Advertisement

Trending

Advertisement
Advertisement
Loading...
To Top
%d bloggers like this: