Competitive Strategies and Changes in Banking Industry in Nigeria

Competitive Strategies and Changes in Banking Industry in Nigeria

AN OVERVIEW OF BANKING INDUSTRY IN NIGERIA
The history of banking in Nigeria has its origin with the opening of a branch of the Africa Banking Corporation (ABC) in August 1891. It was opened as a  way to accelerate the shipping business of Elder Dempster and company. This company later acquired the bank branch in 1893 by paying N2000 to ABC and it was incorporated as the bank of British West Africa in 1894. The bank later metamorphosed to Standard Bank of Nigeria and thereafter till today is first Bank of Nigeria PLC (Anyanwu et al, 1997). [Read more…]