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Home Companies Company News

Nigerian Banks Need Help

Onome Ohwovoriole by Onome Ohwovoriole
February 9, 2017
in Company News
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Nairametrics|Commercial banks in the country are better off raising equity capital than borrowing. A combination of low crude oil prices, risig non performing loans and the first economic recession in 25 years, have left many banks operating at the edge of their capital adequacy ratios (CAR). The unclear foreign exchange policy by the Central Bank Of Nigeria (CBN) has also made issuing debt capital outside the country a difficult task.

MD Coronation Merchant Bank stated this at an event yesterday to mark the rebranding of the company. Coronation Merchant Bank, was formerly ADH Merchant Bank, which was owned by Association Discount House (ADH) Ltd. Coronation Merchant Bank is owned by Coronation Capital run by Aigboje Aig-Imoukhuede.

Coronation Merchant Bank is owned by Coronation Capital run by Aigboje Aig-Imoukhuede. Aigboje was a co-founder and MD of Access Bank Plc from 2002-2013 when he voluntarily resigned. Coronation Merchant Bank also has a majority stake in Wapic Insurance which is listed on the Nigerian Stock Exchange (NSE).

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Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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