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A regional bank has decided to open an office overseas for serving those businesses that are expanding internationally. Choose a country with a large financial center that you believe would be helpful to your customer base.

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A regional bank has decided to open an office overseas for serving those businesses that are expanding internationally. Choose a country with a large financial center that you believe would be helpful to your customer base.

Category: Classification Essay

Subcategory: War

Level: College

Pages: 2

Words: 1100

Opening a Regional Bank in Nigeria
Name
Institution
Opening a Regional Bank in Nigeria
Nigeria with a swelling population which is approximately one hundred and sixty million, the number of middle class citizen has increased significantly over the last few decades. The people of Nigeria represent diverse socio cultural background which to an extent could be beneficial to foreign investors in the banking sector. However, some of the regional banks which have attempted to penetrate the Nigeria economy have faced quite number of obstacles. These challenges are linked to failure by the previous regimes to restore order in Nigeria hence created a room for malpractices in the banking sector.
Challenges that may be faced in the new environment
The rampant corruption involving government officials, lack of transparency in government project, weak legal system, bank frauds, money laundry, forgery and cyber affiliated crimes have all constituted a delicate environment for conducting business by the foreigners in this region. There has been total lack of confidence in the state officers. (Horcher, 2005).
Corruption is one of the biggest challenges affecting the business environment in Nigeria. Majority if international investors are forced to bribe government officials in order to get essential requirements for running of the business. For instance work permit must be facilitated through bribery so that it can be processed faster .It is also the order of the day for region…

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