CBN Raises Commercial Banks Capital Base To N500 Billion
CBN Raises Commercial Banks Capital Base To N500 Billion The Central Bank of Nigeria has announced the increment of the capital base for commercial banks with international authorisation to N500bn and national banks to N200bn. The apex bank announced this in a statement signed by its Acting Director, Corporate Communications, Sidi Ali, in Abuja on Thursday. The CBN’s move mandates substantial increases in the minimum capital base for banks, varying by the scope of their operations. The latest policy directive specifies that commercial banks with international authorisation are now required to shore up their capital base to N500bn. She added…
