Tuesday, January 23, 2024


A recent report suggests that the Central Bank of Nigeria is likely to instruct banks holding international banking licenses to raise their capital base to over ₦900bn. 

This follows the CBN Governor's earlier statement, expressing the need for lenders to increase capital to support the government's goal of growing the economy to $1tn. 

Projections from CardinalStone Securities' Banking Sector FY 2024 Outlook indicate potential capital boosts ranging from ₦181.85bn for regional licenses to ₦909.27bn for international licenses, based on the CBN's possible return to the 2005 dollar ratios of capital bases-to-GDP.

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