Zenith Bank Becomes the first Nigerian Bank to Handle Nigerian Government Foreign Reserves

Zenith International Bank Becomes the first Nigerian Bank to Handle Nigerian Government Foreign Reserves .

When i first heard that zenith bank was going back to the capital market for more funds - i told my friends then that Zenith was all out to get their hands on the Federal government foreign reserves. I came to this conclusion when i heard that the CBN announce that any Nigerian Bank that has 1,000,000,000 US Dollars ( about 129,000,000,000 Naira) will be given 500,000,000 US Dollars to manage.

Now Zenith Bank Plc, in partnership with JPMorgan Chase, a United States-based leading global financial services firm, has been appointed as the first global custodians of Nigeria's foreign reserve which is projected to grow to about $50 billion by end of the year.

Way to go Zenith, i pray others Nigerian banks should do the same so that Nigerian banks can finally play their role in the African Financial scene.