Nigeria's central bank increases minimum capital requirements for banks to N500bn ($359m) for international authorisation and N200bn for national authorisation.
Nigeria's central bank has announced increased minimum capital requirements for banks, aiming to strengthen the country's financial system and increase institutional resilience. Commercial banks with international authorisation must maintain a minimum capital base of N500 billion ($359 million), while those with national authorisation have a minimum capital base set at N200 billion. The central bank encourages banks to consider options like new equity capital infusions, mergers and acquisitions, and reevaluating or downgrading license approvals to meet these new criteria. Banks have two years to meet the new capital requirements.
March 28, 2024
46 Articles