recapitalisation, has become topical once again in the last few months ever since the Central Bank of Nigeria
It is an undeniable fact that policies such as this usually trigger apprehension across the various segments and sectors of the society. For example, following the Soludo recapitalisation, the number of banks operating in the country crashed by about 72 per cent from 89 to 25, which clearly would have led to some job losses. It is, therefore, important for the promoters and the various publics to be, at least on a substantial scale, on a matter as crucial as this.
There is no doubt that a stronger capital base assures greater capacity for lending and sufficient hedges against shocks as may arise from time to time. After the Soludo recapitalisation, for example, Nigerian banks played a more significant role in the financing of oil and gas projects as well as in telecoms.
So if banks have more money, it means more money to give the manufacturing sector and indeed MSMEs because that is practically the challenge we have in Nigeria which makes lending to be currently skewed in favour of a few Organised Private Sector enterprises.” The Federal Government is partnering African Development Bank and other development stakeholders to accelerate hydropower development across the country.
CBN Soludo Recapitalisation
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