Silicon Valley: No Nigerian bank has direct exposure – CBN

There is no direct investment by Nigerian banks in Silicon Valley Bank (SBV) that could result in a loss of investment, the Central Bank of Nigeria has said.

The apex bank spoke amid uncertainty over the takeover of the Silicon Valley Bank by the U.S. government after its clients, including venture capitalists and tech startups, withdrew funds from their accounts, leading to the eventual crash of the bank.

The collapse has raised concerns about the potential impact on other banks in the world.

PremiumTimes : Read More