2024 saw pivotal shifts in Nigeria’s banking and capital markets sectors. Notably, the Central Bank of Nigeria took decisive steps, including a series of monetary policy rate hikes, a banking sector recapitalisation, and a revision of supervisory guidelines for BDC operators, all aimed at reinforcing the economy. For the Nigerian capital markets, despite early turbulence with a NGN1.3 trillion loss and a 2.4% dip in the NGX All Share Index, the market rebounded strongly, surpassing NGN59.1 trillion in capitalization and achieving a 30.4% growth by December 2024.
Ultimately, Nigeria’s banking and capital markets sectors remained resilient throughout 2024, laying the foundation for the achievement of the $1 trillion economy target by 2030.
Here is a closer look at the banking and capital markets regulatory and market trends in 20204, and the trends we expect to see in 2025.
