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Recapitalisation: CBN Raises Banks Capital Base To N500bn, N200bn For National, Commercial Banks
The capital basis for commercial banks with international permission has been raised to N500 billion by the Central Bank of Nigeria (CBN).
The policy change was confirmed by Mrs. Hakama Sidi Ali, CBN’s acting director of corporate communications. in a declaration.
She added that commercial banks with regional authorization are expected to reach a capital floor of N50 billion, while those with national authority must meet a ceiling of N200 billion.
Announced on Thursday, March 28, 2024, this comprehensive financial reform requires significant increases in banks’ minimum capital bases, which vary depending on the size of the bank.
The latest policy directive specifies that commercial banks with international authorization are now required to shore up their capital base to N500 billion.
In a bid to tighten the financial fabric, the CBN has not overlooked merchant banks, which are now subject to a N50 billion minimum capital requirement.
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