Nigeria: Only Five Banks Were Sound in 2011 - NDIC

29 November 2012

Lagos — Nigeria Deposit Insurance Corporation, NDIC, yesterday, said only five banks met the criteria to be categorized as sound banks in 2011. The corporation said this in its annual report for 2011 released yesterday.

The report showed that banking industry is still dominated by five banks. The five banks control 52.67 per cent of the total assets of all the banks.

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