At first, banks in Nigeria were able to weather the global financial crisis. However, the second-round effects saw the collapse of prices on the stock market, credit contraction, and depletion of external reserves.
Sanusi Lamido Sanusi, governor of the Central Bank of Nigeria, as part of the Global Speaker Series at the Stanford Graduate School of Business, walks through the lessons learned from the crisis. Unlike European banks, Nigeria acted decisively in injecting capital to stabilize banks; replaced CEOs and executive management that were potential sources of instability; and clearly communicated the actions taken to depositors and stakeholders.
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4 апр 2013
