Nigeria will not be experiencing any industry wide banking crises, despite the slump in oil prices according to Access Bank CEO Herbert Wigwe.
Wigwe who was speaking at the Economist Summit in Lagos, said not all banks financed oil and gas deals at the peak of oil prices.
Banks also have the ability to restructure oil loans and more capitalised are healthier after the last crises of 2008, although they will not record the level of profitabilities they are used to in the past.
Non Performing Loans for the sector will also increase, said Wigwe.
No fret: Wigwe says Nigerian Banks can deal with bad loans
