Nigerian Banks Meet New Capital Rules, Access Bank and Zenith Bank Lead Recapitalization Efforts
Nigerian banks are undergoing a recapitalization exercise to meet the new capital requirements mandated by the Central Bank of Nigeria (CBN). The initiative, aimed at strengthening the resilience of lenders against economic shocks, has seen 20 banks successfully meeting the set thresholds.
Notable banks like Access Bank and Zenith Bank have completed their capital raising exercises, surpassing the minimum capital requirements. This move is reminiscent of a similar exercise in 2004 under CBN Governor Charles Soludo.
Guaranty Trust Holding Company (GTCO) is among the lenders that have successfully recapitalized.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
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