It was recently reporting season for Nigerian banks and they trotted out, one after the other, to tell us how they had performed in the first 9 months of 2017. While performance varied from bank to bank, there was one unmistakable theme common to all of them – what I like to define as Shashe Banking.

Let’s take the 5 biggest Shashe Banks – First Bank, Zenith, UBA, GTBank, Access – as our reference point. Combined, they earned N452bn from the ‘innovation’ in the first 9 months of the year, a rise of 62% compared with what they earned in the first 9 months of 2016 (N280bn). There is nothing else in the Nigerian economy that grew by 62% over the last year so this Shashe business is clearly operating at a completely different level from the rest of the economy.



READ MORE: https://nairametrics.com/nigerias-shashe-banking-doubleeph/


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