The policy of the Central Bank of Nigeria, CBN is pushing other commercial banks to adopt cross-border expansion.Information Guide Nigeria

According to ICIR, Nigerian banks will adopt cross-border expansion in the face of tight regulation, over-concentrated risk, and the desire to stay afloat, financial experts reveal.

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Recall that in the last on year, the Central Bank of Nigeria (CBN) had aggressively tightened its monetary policy rate (MPR) by 650 basis points (bps) to quell inflationary pressure.

ICIR reports that the rate hike rose from 11.5 per cent in April 2022 to 18 per cent in March this year, impacting banks’ profitability as percentage change in interest expense rose higher than interest income.JAMB Result

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