Why Nigerian banks in Kenya defy Abuja’s foreign ownership rule ?
In 2024, Access Group acquired African Banking Corporation Tanzania Nigerian banks have ruled out reducing their shareholding in Kenyan subsidiaries after the Central Bank of Nigeria (CBN) introduced new guidelines capping lenders' equity investments in overseas subsidiaries at 10 percent of shareholders' funds. The new requirement was announced in early May, with banks given a 12-month compliance window to restructure…
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