With barely eleven weeks to the Central Bank of Nigeria’s (CBN) recapitalisation deadline, fourteen banks are yet to meet the requirement.
Only 19 Nigerian banks had met the apex bank’s
recapitalisation requirements as of January 6, 2025.
The banks that have complied with the CBN’s minimum capital
benchmark include Access Bank, Fidelity Bank, First Bank, GTBank (GTCO), UBA,
Zenith Bank, and twelve others.
However, as of the time of filing this report, fourteen
Nigerian banks are yet to comply.
The banks that have not met the apex bank’s recapitalisation
requirement include First City Monument Bank (FCMB), Unity Bank, Keystone Bank,
Union Bank (Titan), Taj Bank, Standard Chartered Bank, Parallex Bank, and
SunTrust Bank.
Others are FBH Merchant Bank, Rand Merchant Bank, Coronation
Merchant Bank, Alternative Bank, and other non-interest banks.
Meanwhile, financial experts have predicted possible mergers
and acquisitions ahead of the March 31 deadline.
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