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

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.

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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
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