Central Bank of Nigeria Increases Capital Base Requirements for Banks
The need to enhance the capital base of Deposit Money Banks for better efficiency has been reiterated, leading to the Central Bank of Nigeria announcing revised guidelines on its bank recapitalization policy in the country just 48 hours later.
A statement signed by the Acting Director of Corporate Communications, Sidi Ali, in Abuja on Thursday disclosed the new guidelines.
Commercial banks with international authorization have been directed by the apex bank to increase their capital base to N500bn, while national banks must meet N200bn.
Additionally, commercial banks with national licenses must reach a N200bn threshold, and those with regional authorization are required to achieve a N50bn capital floor.
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