Global banks HSBC, UBS close Nigeria offices, foreign investment falls

The HSBC bank logo is pictured at the bank headquarters in Paris April 9, 2015. [Photo: Reuters]

LAGOS  - HSBC and UBS have closed their offices in Nigeria, the country’s central bank said in a report on Friday as it revealed foreign investment had fallen sharply from a year ago.

The bank said foreign direct investment in Nigeria fell to 379.84 billion naira ($1.2 billion) in the first half of the year from 532.63 billion naira ($1.7 billion) a year earlier.