Nigeria's central bank proposes bank recapitalisation to enhance primary market activity and boost competitiveness.
Bank recapitalisation proposed by Nigeria's central bank will boost primary market activity, according to ASHON Chairman Sam Onukwue. The CBN announced new capital base requirements for banks, ranging from N200bn to N500bn, and aims to make Nigerian banks more competitive globally. Onukwue praised the move, noting that banks face increasing risks and need a stronger capital base to absorb uncertainties.
June 11, 2024
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