The Central Bank of Nigeria (CBN) has announced an increase in the capital base for various categories of banks operating in the country. According to a statement by the CBN’s Acting Director of Corporate Communications, Hakama Ali, the capital base for banks with international authorization has been raised to N500 billion, while national banks are required to have a capital base of N200 billion.
Commercial banks with regional authorization are expected to raise their capital base to N50 billion, while merchant banks must also meet a minimum capital requirement of N50 billion.
Furthermore, non-interest banks with national and regional authorizations are directed to increase their capital to N20 billion and N10 billion, respectively.
The CBN has mandated all banks to meet these new minimum capital requirements within 24 months, starting from April 1 and ending on March 31, 2026.
Tooor we hope this is not going to affect the poor masses negatively
@t-talks, we hope it won’t affect o…for say federal government fit take incharge breadth of life sef…dollar wey increase of recent go don affect breadth of life😂
CBN They must provide guidance on interest rates, reserve requirements, liquidity provision, and other policy measures to influence the banking system’s behavior and maintain financial stability
You sure say banks no go put this burden on customers?
Let the poor breath, hope all this their policies wouldn’t affect the masses
Hope is not something that is going to affect us
At the end of the day,I hope it’s not we customers that will suffer this new effect
Huhmmm make no sha affect us oo we still Dey deal with scarcity of things
Nawooo everyday our leaders are making policies
Which we dont even see the good effect buh it only affect the poor masses mtcheew unah don tire me self
The poor don suffer for una hand… Smh
I hope it will not affect us oo