How will the collapse of Silicon Valley Bank affect Nigeria Economy?

March 13, 2023

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Questions And Answers › Category: Business › How will the collapse of Silicon Valley Bank affect Nigeria Economy?

affiliatesade Staff asked 2 years ago

SVB is a bank being used by different nations and individuals all over the world. Its a bank that is so strong with financial background that has attracted big investors all around the globe. It was a big surprise to hear about its collapse last week. In view of the fact that the bank has big time Nigerian investors, do you think its collapse will affect Nigerian economy?

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techguru answered 2 years ago

It will obviously hamper the economy of Nigeria whether directly or indirectly because as you rightly said, Nigerians have investment in the bank and unless the debt is 'bought' there would be financial crisis.