LONDON – The head of Nigeria’s central bank, Lamido Sanusi, said yesterday he was prepared to break with a decades-old ban on foreign takeovers of its banks, in an interview with the Financial Times.
‘What we have today is that the central bank is not likely to support a foreign bank owning more than 10 per cent of a top tier Nigerian bank. That is something that in my view needs to be looked at again,’ Sanusi said. He said the ban was not a legal requirement but policy of the previous leadership of the Central Bank of Nigeria.’If as governor of central bank I am okay to have a bank owned by nominees and I don’t know who owns them, why wouldn’t I be comfortable with a bank owned by Barclays, or HSBC or China Construction Bank, who I know?’ he added.’For me it’s a no-brainer.’- Nampa-AFP
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