The Nigerian Federal Government has barred commercial banks in the country from giving loans to state governments . . .
Nigerian banks started trimming of staff to suit the economic situation. Last week, two banks, Ecobank and Diamond Bank sacked over 1060 staff citing economic downturn as reason for the cut . . .
NNPC in Talks with IOCs, Banks to Finance New Drilling, Repay Debt
The Nigerian National Petroleum Corporation (NNPC) is in talks with oil majors and banks to raise capital for new drilling and to repay up to $4 billion in debt that the state oil company has accumulated over years of mismanagement, the Group Managing Director of NNPC, Dr. Ibe Kachikwu, has told Reuters . . .