CBN raises commercial banks’ capital base

CBN raises commercial banks’ capital base

The Central Bank of Nigeria, CBN, has announced the increment of the capital base for commercial banks with international authorisation to N500 billio

Gumi denies knowledge of N800k paid during negotiation for release of Afaka students, says ‘I know nothing about it’
Playstore removes CBN’s eNaira app after negative reviews, poor rating
How ex-deputy CBN governor Obadiah Mailafia died

The Central Bank of Nigeria, CBN, has announced the increment of the capital base for commercial banks with international authorisation to N500 billion and national banks to N200 billion.

The CBN’s move mandates substantial increases in the minimum capital base for banks, varying by the scope of their operations.

The latest policy directive specifies that commercial banks with international authorisation are now required to shore up their capital base to N500 billion.

National authorisation commercial banks need to meet a N200 billion threshold, while those with regional authorisation are expected to achieve a N50 billion capital floor.

Also, merchant banks are now subject to a N50 billion minimum capital requirement while non-interest banks with national and regional authorisation will need to increase their capital to N20 billion and N10 billion respectively.