Zenith Bank CEO: Fewer regulations could make banks more competitive

Nigerian banks have been posting huge profits in recent months, but their contribution to Nigeria’s GDP pales in comparison to telecoms. While banks add 3%, telecoms adds 16% to national output.

But there is room for banks to improve, Ebenezer Onyeagwu, CEO of Zenith Bank Plc and the chairman of the Body of Bank CEOs tells The Africa Report. He argues that less regulation is needed for the financial sector to compete.