As a result, 26 banks are actively engaged in the capital markets and other investment platforms, seeking to raise funds to strengthen their financial stability and resilience.
This initiative is designed to bolster the sector’s ability to support economic growth, enhance its robustness against financial shocks, and ultimately contribute to a more stable and dynamic economic environment.
In late March, the Central Bank of Nigeria directed deposit money banks to recapitalise. The apex bank directed commercial banks with international authorisation to increase their capital base to N500bn and national banks to N200bn while those with regional authorisation are expected to achieve a N50bn capital floor.
Similarly, non-interest banks with national and regional authorisations will need to increase their capital to N20bn and N10bn, respectively.
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