Nigerian central bank imposes capital levels on lenders

Move comes after MPC calls for renewed efforts to recapitalise banks

Central Bank of Nigeria
Wikimedia/Commons/Godwin Paya

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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