FBN Holdings Plc, owner of First Bank Nigeria, said it expects to benefit from a surge in sales of bonds by state governments to replace dwindling oil revenue and after peaceful elections bolstered investor confidence.
“We expect a lot of the state governments to go to the market to issue bonds to be able to fund their projects,” Chief Executive Officer Bello Maccido said in an interview. “It presents an opportunity for the investment-banking business.”
