Nigeria CBN prepares banks for universal banking

The Central Bank of Nigeria (CBN) has started processing the banking licences of banks with a view to granting them a general licence for universal banking. This was revealed to finance journalists in Lagos over the weekend [Feb. 10-11, 2001] by the central bank's spokesman, Mr. Tony Ede. According to him, once the CBN gives the banks the general certificate, it is left for the management of each of the banks to decide what type of business to engage in within the context of universal banking