Richer Banks, Poorer Economy: The Hidden Crisis in Nigeria’s Financial System

By BLAISE UDUNZE Across Africa, banks are getting bigger but not necessarily better. From South Africa’s Standard Bank to Morocco’s Attijariwafa and Egypt’s National Bank, financial institutions are boasting record balance sheets, higher Tier 1 capital, and growing regional footprints. According to African Business magazine’s 2025 ranking of the continent’s top 100 banks, Africa’s total

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