With about eight months to the March 31, 2026 deadline given to banks to meet up with the new capital base, the Governor of the Central Bank of Nigeira (CBN), Olayemi Cardoso has revealed that eight banks have met the recapitalisation while others are in the process of meeting the benchmark.
The apex bank had given a 24-month timeline, running from April 1, 2024 to March 31, 2026 for banks with international licences to maintain at least N500 billion, national banks to have minimum of N200 billion, and regional banks to maintain N50 billion as paid up capital.
Cardoso, however, did not disclose the identities of the banks that have crossed the hurdle as at the time of filing this report.
Details later…
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