The bank said similar to other Nigerian banks, it would continue to scan sub-Saharan Africa in general for potential acquisitions.
It said, “There will always be speculations on FirstBank’s involvement on account of its size, liquidity, systemic importance and historic support in backstopping the industry. “Similar to other Nigerian banks, First Bank continues to scan sub-Saharan Africa in general for potential acquisitions. This, according to him, meant that the N25bn capital base of banks when translated into the dollar was about $250m.
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What does that even mean?
Is the bank no more buoyant to be independent or what?
Who is buying who?