CBN Confirms 14 Banks Meet New Capital Requirement in Nigeria

The Central Bank of Nigeria (CBN) Governor, Yemi Cardoso, announced that 14 banks have fully met the new capital requirements set by the CBN. This development is part of the ongoing recapitalization exercise initiated by the CBN earlier this year.

The exercise aims to strengthen the banking sector by increasing the minimum capital base for different categories of banks. The successful compliance of the 14 banks signifies significant progress in the recapitalization process, urging the CBN to continue implementing policies to ensure the exercise's success and the long-term financial stability of the banking system.