From Kayemo News
The Central Bank of Nigeria has said thirteen Nigerian banks are yet to meet up with its recapitalization requirement 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. {Daily Post}