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Merger looms as CBN raises capital requirements for banks in Nigeria

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Bank mergers are imminent as the Central Bank of Nigeria, CBN, has raised minimum capital requirements for banks. CBN disclosed this in a circular signed by the Financial Policy and Regulation Department Director, Haruna Mustafa, and issued to all commercial, merchant and non-interest banks.

The banker's bank pegged the minimum capital base for commercial banks with international authorisation at N500 billion from N50 billion in 2005. Also, CBN benchmarked the minimum capital requirement for banks with National Spread , Regional , Merchant Banks, National Non-Interest Banks and Regional Non-interest . All banks are required to meet the minimum capital requirement within 24 months commencing from April 1, 2024, and terminating on March 31, 2026.

recalls that in 2005, the capital requirement for an international banking license stood at N50 billion. Then, the minimum capital requirement for national banks was N25 billion.

 

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