Citi has had a presence in Nigeria since 1984. Citi is the oldest existing international bank in Nigeria, with service bank branches spread across the nation.
Citi continues to focus on competitively creating value and providing efficient service delivery to its clients while maintaining a robust risk and control environment. Citi consistently assists its clients by creating innovative solutions, which are mostly first-of-their-kind landmark structures in the market, to resolve their banking needs. Citi brings its global expertise, coupled with in-depth knowledge of the local market, to provide appropriate banking solutions.
Citi has welcomed the recent regulatory measures initiated by the Central Bank of Nigeria, as they have brought local banking standards closer to international best practices. A more transparent and rigorous regulatory regime ensures a level playing field for all market operators. Citi has taken the lead in complying with several of the recent regulatory reforms and has worked hard to build overall industry capacity in this regard.
At Citi, we also assist local clients strategically, in their adoption of best practices in their corporate governance standards.
Citi’s global connectivity is highly valued by its clients in Nigeria, including Nigerian customers looking to expand their businesses beyond the shores of the country. Citi builds enduring relationships with our clients by providing them with a broad suite of strategic advisory and financing products. Over the years, Citi’s clients have been able to conform to the highest global standards and as a result have been able to raise capital by tapping into international capital markets. As Nigeria’s economy rebounds, Nigerian entities’ appetite for innovative financing will increase. To satisfy these demands, Citi has led several landmark financings including:
- Joint Lead Manager/Lead Arranger for Federal Republic of Nigeria US$3 billion Eurobond
- Joint Lead Manager for Federal Republic of Nigeria US$1.5 billion Eurobond under its Global MTN
- Zenith Bank US$500 million Eurobond
- Africa Finance Corporation (AFC) US$500 million
- United Bank of Africa (UBA) inaugural US$500 million Eurobond
- Fidelity Bank US$400 million Eurobond
- Extended loan to Accion Microfinance Bank (Accion MFB) loan of NGN500 million to drive and promote the development of the microfinance sector in Nigeria.
- Access Bank Eurobond US$300 million
- IHS Nigeria inaugural Eurobond US$800 million
- US$2.6 billion in Eurobond issues/syndicated loans for Nigerian banks, Corporates and Sovereigns.
- US$4 billion in term facility for corporate clients and $US1 billion in Eurobonds for the Federal Republic of Nigeria
- Raised US$500 million Zenith Bank’s Eurobond deal
- Raised US$400 million for Access Bank
- US$100 million Zenith Bank
- US$300 million & US$100 million Fidelity Bank
- Raised US$450 million for First Bank’s Eurobond deal
- Raised US$1 billion in the Eurobond market in 2013
- US$300 million for First Bank