CBN Confirms 16 Banks Fully Compliant With Recapitalization Target Ahead of 2026 Deadline
The Central Bank of Nigeria (CBN) has announced that 16 banks have fully complied with the recapitalization requirements ahead of the 2026 deadline, showcasing improved industry compliance. Governor Olayemi Cardoso revealed this during a monetary policy committee meeting in Abuja.
This achievement reflects the progress made in the ongoing recapitalization program introduced as part of the CBN's reform agenda to strengthen the banking sector. The move aims to enhance the sector's resilience, improve shock absorption capacity, and increase credit support for key sectors of the economy.
The CBN's decision to retain the monetary policy rate (MPR) at 27% is part of its anti-inflation strategy to stabilize the foreign exchange market.
Plus234Feed summary based on reporting from News Online Nigeria. Read the original report below.
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