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CBN Approves 14 External Funds Managers

The Central Bank of Nigeria (CBN) has appointed 14 Nigerian Banks with their foreign partners as external Fund Managers to manage $7billion of the nation's foreign reserves estimated at $38.07 billion (as at July 2006). This was announced through CBN’s investment committee and is in line with the reform process in the banking process aimed at improving professional management and transforming Nigerian Banks into global players.

The final names are:

Nigerian Bank	Foreign Partner
Union Bank	Black Rock
Zenith Bank	J P Morgan Chase
First Bank	HSBC
Intercontinental	BNP Paribas
UBA	UBS
IBTC-Chartered	Credit Suisse
Guaranty Trust	Morgan Stanley
Bank PHB	Fortis
Fidelity	Investec
Access Bank	ABN Amro
Oceanic	Cominvest
Ecobank	ING
Stanbic	Bank Of New York
Diamond Bank	Crown Agents

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» CBN Approves 14 External Funds Managers

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» AllNairaPros series - Central Bank of Nigeria and Economic Growth

» AllNairaPros Series:- An Autonomous CBN soon? – Part1

» CBN Approves First Bank, HSBC Deal

» External Reserves: IBTC Partners Credit Suisse

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