Frequently referred to as the Giant of Africa, Nigeria is growing slower than its population and large numbers of people are poor. With gross national income per capita of US$2,100 (in 2017; Atlas method, WDI), Nigeria is classified as a lower-middle-income country. It is richly endowed, has a relativ...

This paper investigates the leading causes of nonperforming loans during the economic and banking crises that affected a large number of countries in Sub-Saharan Africa in the 1990s. Empirical analysis shows a dramatic increase in these loans and extremely high credit risk, with significant differences between the CFA and non-CFA countries, and substantially higher...