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- Title
NIGERIA: First Bank Deal.
- Abstract
The article reports on the finalization of the memorandum of understanding jointly by the First Bank of Nigeria PLC and HSBC Bank PLC to help manage external reserves of $32 billion in Nigeria. Aside from managing the reserve, both also agreed to integrate various areas, including asset management, insurance brokerage, project and export financing and investment banking. Meanwhile, Zenith Bank PLC was the first bank in the country to seek approval in acting as custodian of the reserves.
- Subjects
NIGERIA; BUSINESS partnerships; FIRST Bank of Nigeria PLC; HSBC Bank PLC; PUBLIC finance; NIGERIAN economy
- Publication
Africa Research Bulletin: Economic, Financial & Technical Series, 2006, Vol 43, Issue 5, p16973
- ISSN
2053-227X
- Publication type
Article
- DOI
10.1111/j.1467-6346.2006.00279.x