Central Bank of Nigeria (CBN) says two global banks, HSBC and UBS have closed down their offices in Nigeria.
Written by darling on November 5, 2018
Central Bank of Nigeria (CBN) says two global banks, HSBC and UBS have closed down their offices in Nigeria.
The CBN report also noted that the country’s foreign investment has slumped further since one year ago.
However, the CBN did not reveal the reasons for the closure of the financial firms.
According to the apex-bank, Nigeria’s foreign direct investment in collapsed to 379.84 billion naira in the first half of the year from 532.63 billion naira a year earlier.
The CBN noted that the outlook for the Nigerian economy in the second half of the year was optimistic due to higher oil prices and production.
