Nigeria: Proposed Development Bank Opens Floodgate of DFIs Into Nigeria

19 October 2014

Strong indications emerged at the weekend that the proposed Development Bank of Nigeria, a financial institution designed to fill the lending gap in the country, has triggered a fresh scramble for Nigeria by Development Finance Institutions (DFIs) with a correspondent inflow of new direct foreign investment into the country.

DFIs are financial institutions, which provide finance to the private sector for investments that promote development. They focus on developing countries and regions where access to private sector funding is limited. They are usually owned or backed by the governments of one or more developed countries.

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