News Formal

Recapitalisation: CBN gives reason for exclusion of banks’ retained earnings

  • 📰 DailyPostNGR
  • ⏱ Reading Time:
  • 14 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 59%

CBN News

Recapitalisation

The Central Bank of Nigeria, CBN, has reiterated that it excluded banks' retained earnings to meet its newly announced minimum capital requirement in a bid to ensure the injection of fresh capital into the financial system.

The Central Bank of Nigeria, CBN, has reiterated that it excluded banks' retained earnings to meet its newly announced minimum capital requirement in a bid to ensure the injection of fresh capital into the financial system. Director Financial Policy and Regulatory Department, FPRD at CBN, Haruna Mustafa, disclosed this in a recent podcast on 'Banking Sector Recapitalisation Programme 2024'.

recalls that the apex bank raised capital requirements for all Nigerian banks by at least 100 per cent last month. CBN gave banks two years to meet the requirement. However, analysts in the sector have criticized the exclusion of banks' retained earnings.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Banks demand CBN’s clarity on retained earnings as recapitalisation countdown beginsThe Nation Newspaper Banks demand CBN’s clarity on retained earnings as recapitalisation countdown begins
Source: TheNationNews - 🏆 6. / 69 Read more »