Another round of bank recapitalisation

commercial and six merchant banks are expected to shore up their minimum share capital by as much as 100 per cent... commercial and six merchant banks are expected to shore up their minimum share capital by as much as 100 per cent, in some categories.

This time, the banks have different capital requirements, depending on their type of license. Other key differences between the two programs are: .

Among the top five, Access Holdings, the parent company of Access Bank, appears the most prepared for this recapitalisation, in spite of the recent devastating death of its CEO, Herbert Wigwe. Last Thursday – the day the CBN announced the new capital review – Access Holdings unveiled plans to raise $1.5 billion through issuance of various financial instruments such as ordinary shares, preference shares and others.

Leaning on its 2004 experience, the CBN expects that a highly capitalised banking industry should be in a position to not only withstand the prevailing macroeconomic challenges and headwinds, but also to enhance its resilience, solvency and “capacity to continue to support the growth of the Nigerian economy.”Before flagging, please keep in mind that Disqus does not moderate communities.

Enterpreneurs in small and mediu-scale enterprises have been educated on the skills to reach global market audience. This training was done by the Nigerian Fellowship of Evangelical Students Alumni Association..To date, nothing showcases the legacy of wastage, thievery, chicanery, and official corruption that the nation’s sports industry has become synonymous with, like the jaw-dropping amounts of money that the country has spent on hosting mega sporting events....

CBN Charles Soludo Recapitalisation Yemi Cardoso

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