The Central Bank Nigeria on Thursday, unveiled new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorization at N500bn.
This is coming days after the apex bank urged Nigerian banks to expedite action on the recapitalization of their capital base to strengthen the financial system.
This was according to a statement released by the apex bank on Thursday.
The statement reads, “Confirming this in Abuja, on Thursday, Acting Director, Corporate Communications Department, Mrs. Sidi Ali, said the new minimum capital base for commercial banks with national authorization is now N200bn, while the new requirement for those with regional authorization is N50bn.”
Capital base is a term used by individual investors, publicly traded companies, and banks to refer to a base level of funding.
For individual investors, capital base refers to money used to purchase an initial investment and subsequent purchases of that investment.
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