6 Nigerian banks will be forming a merger in January, 2016.



According to THE CITIZEN, the merger is as a result of the shock created in their assets and balance sheet sizes in the face of declining oil prices.

Managing Director, Sterling Bank Plc, Yemi Adeola, who disclosed this yesterday said he envisaged possible shrinking in the number of local banks in the New Year. He however, did not list the banks involved in the merger.