At the expiration of a two-year period given by the Central Bank of Nigeria (CBN) to Nigerian banks to recapitalise, 33 banks have met the new capital requirements, raising a total of ₦4.65 trillion.
The CBN confirmed the update on Wednesday in a statement jointly signed by the Director of Banking Supervision, Dr Olubukola Akinwumi and the Acting Director of Corporate Communications, Mrs Hakama Didi – Ali.
The exercise, which began in March 2024, lasted over 24month period, recorded strong participation from both domestic and international investors, with 72.55% of capital sourced locally and 27.45% from international markets, a development CBN said reflects sustained confidence in the Nigerian banking sector.
Details later…
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