NIGERIAN BANKS RATES HIGH IN
EMERGING ECONOMIES
The
Governor of the Central Bank of Nigeria, Professor Chukwuma
Soludo, says the country’s banking industry rates high,
alongside emerging world economies like Israel, China, India,
Poland and South Africa.
Professor Soludo said this at the
opening of a one- week investigative hearing of the Nigerian
Capital Market by the House of Representatives Joint Committee
on Banking, Currency and Capital Market.
He explained that as at March
2008, the Nigerian Stock Exchange, had exceeded one hundred
billion dollars, which meant that the Nigerian Stock market had
become a key aspect for the creation of prosperity.
Professor Soludo said that of the
ten most capitalised companies on the exchange, eight of them
were banks and that the Nigeria Stock Exchange was one of the
fastest growing in the world.
The governor told the committee
that the massive transformation that occurred in terms of
capital and getting money from the capital market might be
responsible for the problem of certification for shareholders,
due to the fact that all the eighty-nine banks put together
before recapitalization, had a total shareholder fund of two
hundred and ninety-three billion naira.
NAN
