Oshiomhole Goofed: Standard Chartered Bank Says It’s Not A South African Firm


Standard Chartered Bank has refuted a claim by Adams Oshiomhole, the National Chairman of Nigeria’s ruling party, the All Progressives Congress, that it is a South African company.

Oshiomhole, who spoke on the xenophobic attacks on Nigerians and other foreign nationals in South Africa, urged the Nigerian government to take over all South African firms in the country including Standard Chartered.

Oshiomhole had said, “We also know that Standard Chartered Bank and Stanbic Bank, are all South African banks, Nigerians may have more shares there if any. It is time to ask them to wind up so that Nigerian banks will take advantage of their departure and expand their operations. We have enough to save by transferring these businesses to Nigerians.”

However, Standard Chartered told SaharaReporters: “Standard Chartered Bank Nigeria Limited is fully owned by Standard Chartered Plc, a British group.

“Standard Chartered PLC is a leading international bank, listed on the London, Hong Kong, and Mumbai stock exchanges.

“It has operated for over 150 years in some of the world’s most dynamic markets and earns more than 90 per cent of its income and profits in Asia, Africa and the Middle East.

“This geographic focus and commitment to developing deep relationships with clients and customers have driven the bank’s growth in recent years.”

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SaharaReporters, New York

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