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Global financial flu finally catches up with Africa

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Nigerian President Umaru Yar’Adua. The Central Bank of Nigeria injected Sh200bn into five banks as equity capital as they were heavily undercapitalised. 

By Carol Musyoka  (email the author)
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Posted Monday, August 24 2009 at 00:00

I have said this before, and I am saying it again. A crisis should never be wasted.

Previously I said that I would draw great comfort if I found a CBK team dispatched to New York to learn from the Americans on what not to do.

I wish to restate it thus: I would draw great comfort if I found a CBK team dispatched to New York via Lagos to learn from two markets in crisis on what not to do.

carol.musyoka@bungani.com

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