The Central Bank of Nigeria has said 13 Nigerian banks are yet to meet its recapitalization requirements as the March 31st
deadline draws near.
The Governor of CBN disclosed this on Tuesday in a briefing
after its 304th Monetary Policy Committee.
According to him, out of 33 banks, only 20 have met minimum
capital requirements.
He said the MPC urged banks to ensure the successful
completion of the recapitalization program.
“Members acknowledged the continued resilience of the
banking sector.
“With regards to the ongoing recapitalization program. The
committee noted that of the 33 banks that have raised additional capital, 20
have met the new minimum capital requirements, reaffirming steady progress to a
reboosted and recapitalized financial system,” he said.
Recall that in March 2024 the apex announced a new
recapitalization requirement for Nigerian banks with 31st March 2026 as the
deadline.
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