CBN Unveils New Minimum Capital For Banks

…Gives Banks 24 months To Recapitalise
 …For commercial banks N500 Billion.

For commercial banks with national authorisation is now N200 Billion, while the new requirement for those with regional authorization is N50 Billion.

Mrs. Sidi Ali also disclosed that the new minimum capital for merchant banks would be N50 Billion, while the new requirements for non-interest banks with national and regional authorisations are N20 Billion and N10 Billion, respectively.

Details shortly…