Home Business CBN set to pursue recapitalisation programme in banking sector
BusinessNews

CBN set to pursue recapitalisation programme in banking sector

Share
CBN Governor, Godwin Emefiele
Share

Nigeria’s apex monetary authority, the Central Bank of Nigeria (CBN) has said that it will soon begin recapitalisation programme in the Nigerian banking sector to enable it compete with its counterparts in other climes.

Confiance News gathered from the new five-year plan released by the bank.

“In the next five years, we intend to pursue a programme of recapitalising the banking industry so as to position Nigerian banks among the top 500 in the world,’’ the CBN governor, Godwin Emefiele said.

Confiance News, however, gathered that Regional banks in the country currently have a minimum paid-up capital of N10 billion, while national banks have N25 billion and international N50 billion.

Also known as the apex bank, the CBN disclosed that while it targets the growth of the nation’s external reserves, and support efforts at diversifying the economy, it will also work with its counterparts in the fiscal arm in supporting improved foreign direct investment flows to various sectors such as agriculture, manufacturing, insurance and infrastructure.

“We will seek to preserve domestic macroeconomic and financial stability,” Emefiele said.

Please follow and like us:
Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Start your career with NNPC Limited

Start your career with NNPC Limited
Start your career with NNPC Limited

Member

Don't Miss

NCC

Please follow and like us:

‘My life trajectory has been a story of …,’ Inibehe recounts God’s faithfulness on his 36th birthday

By Chioma Obinagwam Renowned Nigerian lawyer and human rights activist, Inibehe Effiong, has expressed his gratitude to God for making him celebrate his...

Related Articles

NCC

Please follow and like us:

How SCOAN celebrated God’s faithfulness with global thanksgiving service 

By Dare Adejumo On Sunday, December 8, SCOAN at its Ikotun-Egbe Lagos...

NCC

Please follow and like us:

How collaborations among UBA, NIBSS, others will deliver sustainable value to customers, stakeholders

By Chioma Obinagwam The partnership among the United Bank for Africa (UBA),...

Advertisements