FNB singles out Nigeria as banking’s African prize

First National Band, a top 5 South African bank, is pursuing a strategy to expand into the rest of Africa, where it had identified Angola, Tanzania and Nigeria as target markets for investment, CEO Michael Jordaan said yesterday. He said that Nigeria was a market that any investor could not ignore

Nigeria has up to five banks that were rescued from collapse by the central bank and which it wants to offload on suitable buyers. FNB, a possible buyer, joins rivals Standard Bank and Nedbank , which have also staked their African expansion strategy on establishing a presence in Nigeria.

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http://www.businessday.co.za/articles/Content.aspx?id=115403