Nigerian banks are expected to experience a slowdown in 2020 due to the COVID-19 pandemic.
The Coronavirus pandemic is top on the list of factors weakening the Nigerian financial sector.
The report shows that Nigeria's banking industry remains one of the most systematically fragile in the world.
Capital erosion and a possible resurgence in banks' non-performing loans are just some of the risks.
Among the 26 banks affected by the latest debits are regular "victims".
Wema Bank insisted that not more than two positive cases were confirmed.
Nigerian banks, tend to spend more on advertising compared to companies in other sectors of the economy. And this usually influences their financial performances.
Banks' loans increased by more than N1 trillion during the first three months of 2020.
The performance by banks in Q2 2020 is expected to be much lower, mainly due to the economic fallouts from the COVID-19 pandemic.
In Nigeria, there are currently three banks with a holding company structure, according to information obtained from the NSE. The banks are – FCMB Group Plc,...