Global Banking Turmoil: Nigerian Banks Need Vigilance, Proactiveness
The global banking turmoil over the past two weeks following a series of lovely bank collapses in Europe and America, has proven that Nigerian banks need to be more vigilant and shield towards screw ups, a new report through Agora Policy, an Abuja-primarily based think tank, has said Despite a series of rescue programs for troubled lenders and the assurances of governments and economic regulators, worries about the fitness of the global economic gadget persist in the aftermath of the March 10 crumble of Silicon Valley Bank (SVB). Financial experts stated what came about to SVB is in a extensive sense very much like what's happening with Credit Suisse. According to the report, the worries inside the worldwide banking device aren't confined to SVB and Credit Suisse as many traders are asking comparable questions on many different banks. As a signal of those nerves, the Nasdaq bank index, an index which tracks the inventory costs of a number of the biggest banks, turned into dow...