This chapter contributes to the emerging literature on the internationalization of African fi rms, focusing on the intra-regional expansion strategies and patterns of fi rms, which we refer to as Africa-to-Africa (A2A) internationalization. The study provides an overview of the dynamics of the internationalization process of these banks. An overarching objective of this exploratory study of the A2A internationalization of Nigerian banks is to examine what liabilities or constraints explain why these organizations appear not to have reaped the benefi ts of doing business across borders, in spite of the market opportunities in banking within the region.