Banking and Finance Sector in Nigeria: An Overview for Business and Exporters
- The Trade Adviser
- Apr 29, 2024
- 1 min read
Updated: Jun 5
The Nigerian banking and finance sector, regulated by the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC), plays a pivotal role in the economic landscape of Africa's largest economy. This article explores the complexities of the sector, providing valuable insights for businesses and exporters looking to engage with the Nigerian market.
1. Sector Stability and Economic Conditions
Post the 2019 re-election of the incumbent president, Nigeria saw economic stability that was crucial for boosting business confidence and investment. This stability led to a slight increase in Foreign Direct Investments (FDI), from USD 247.37 million in Q1 2019 to USD 257.25 million by year-end, reflecting cautious optimism among foreign investors.
