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Systematically Important Financial Institution (SIFI)

31 Mar 2015
Just like the demise of Lehman Brothers in the heat of the 2008 financial crisis engendered the Systematically Important Financial Institution (SIFI) theory in the United States, the Central Bank of Nigeria’s intervention to salvage the banking system in 2008, orchestrated the equivalent in Nigeria. The tottering financial system, the CBN said, depended on the SIFI banks as it pronounced them ‘too big to fail.

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