The Central Bank of Nigeria has announced an upward review of the minimum capital requirements for commercial, merchant and non-interest banks.
The financial regulator said the capital base for national and regional non-interest banks is N20 billion and n10 billion, respectively.To meet the minimum capital requirements, CBN advised banks to consider the injection of “fresh equity capital through private placements, rights issue and/or offer for subscription”.OTHER REQUIREMENTS FOR EXISTING BANKS
In line with extant regulations, banks that breach the CAR requirement shall required to inject fresh capital to regularise their position.The minimum capital requirement shall be paid-up capital.
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