Billions spill out of Nigeria's banks.

Position:Banking
 
FREE EXCERPT

A report by the Nigeria Deposit Insurance Corporation discloses that the country's banks lost N11.2bn in 943 recorded cases of fraud and forgery. The Corporation, the financial sector regulatory body, says the loss represents around 7% of insured banks' shareholder funds, and upwards of 11% of the banks' pre-tax profits. Nearly N1bn of the N11.2bn lost...

To continue reading

REQUEST YOUR TRIAL