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The Bank of the Year award went to Nigeria's Intercontinental Bank while yet another Nigerian, the veteran Otunba Dr Michael Balogun, the founder of the First City Merchant Bank (FCMB), was presented with the Lifetime Achievement award.
Otunba Dr Michael Balogun, Founder First City Merchant Bank (FCMB) Nigeria
The executive chairman of First City Merchant Bank (FCMB), Otumba Michael Balogun, warns that the N500m capital adequacy requirement (CAR) for banks may soon become inadequate and some institutions were already doubling their CAR to prepare for any future hiccups.