Nigerian central bank imposes capital levels on lenders
Move comes after MPC calls for renewed efforts to recapitalise banks
The Central Bank of Nigeria (CBN) imposed minimum capital levels on commercial banks on March 28, after its monetary policy committee warned lenders were under-capitalised.
The CBN said banks must implement the new capital levels within two years. It said banks authorised to carry out international transactions must have a minimum capital holding of 500 billion naira ($382.8 million).
Lenders with “national authorisation” must build up capital levels of 200 billion naira, while those with
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