Nigeria’s new central bank governor, Lamido Sanusi, is considering lifting the ban on the foreign ownership of banks, reports Reuters.

Current regulations, described by Sanusi as “not sustainable”, bar foreign firms from owning more than 10% of a Nigerian bank, and any acquisition of more than 5% of a Nigerian bank by a foreign firm has to be approved by the central bank.

Sanusi, who was appointed central bank governor earlier this month, said that “[Nigerian banks] need the capital to come in . . . What you want to do is open up all the possibilities.”

The governor said that he did not have a timeframe for easing the restrictions.