CBN Confirms 14 Banks Meet New Capital Benchmark in Nigeria
The Central Bank of Nigeria (CBN) confirmed that 14 banks have met the new capital requirements set in the ongoing recapitalization exercise. CBN Governor Yemi Cardoso announced this during the 302nd Monetary Policy Committee (MPC) meeting in Abuja, highlighting the significant progress made in strengthening the banking sector through recapitalization.
The new capital thresholds, set earlier in the year, require commercial banks to hold N500 billion for international licenses, N200 billion for national licenses, and N50 billion for regional licenses. The MPC commended the banks for meeting the requirements and urged the CBN to continue implementing policies to ensure the successful completion of the exercise, emphasizing the resilience and soundness of the banking system.
Plus234Feed summary based on reporting from The Will. Read the original report below.
Read full article
Continue on The Will
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
CBN Confirms 14 Banks Meet Recapitalization Target Ahead of Deadline: Full List Revealed
Nigerian Banks Exceed CBN Recapitalization Deadline, Raise Billions - Strong Investor Interest
Nigerian Banks Race to Meet Recapitalization Deadline Amid Industry Reshuffle
Nigerian Banks Face Pressure Over CBN Recapitalization Deadline - Resilience Tested!
CBN's Recapitalization Mandate: Transforming Nigeria's Banking Landscape
Nigerian Banks Meet CBN Capital Thresholds Ahead of Deadline
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
