Nigerian c bank tighten licensing law of new banks

NIGERIA - The Central Bank of Nigeria (CBN) may have soft-pedalled on the licensing of new banks which was put on hold almost three months ago.

The new twist has resulted in a review of the rule that applicants deposit 2bn nairas as minimum capital requirement before they could be considered for approval.

Just last week, as evidence of its new stance, the CBN gave one of the about 26 applicants, Bond Bank, the nod to begin operations.

This is a marked difference from its position about three mon

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