Billionaire investor and philanthropist, George Soros is eyeing potential investment opportunities in Nigeria's banking sector.

The Financial Times reports that analysts from Soros Fund Management last week met with Nigerian bankers and government officials.

Minister of state for finance, Remi Babalola confirmed that he was due to inform two senior analysts from Soros Fund Management on Nigeria's investment climate.

According to sources in the banking industry, the Soros delegation met senior managers from Diamond Bank and United Bank for Africa.

Nigerian banking share prices tumbled over the past year due to concerns about the level of supervision and transparency.