Cardoso.webp
The Digest:

CBN Governor Olayemi Cardoso has confirmed that 16 banks have fully complied with new capital rules, a significant step in fortifying the financial foundations meant to weather economic storms and support national ambition, revealing the steady build of institutional resilience.

Key Points:
  • Sixteen banks have fully met the revised capital requirements.
  • The Monetary Policy Committee expressed satisfaction with banking sector resilience.
  • In total, 27 banks have actively raised capital through various methods.
  • The recapitalisation programme aims to strengthen banks' financial buffers.
  • Enhanced capital will help banks navigate risks across Africa.
  • This supports Nigerian traders and individuals operating internationally.
  • The CBN is focused on concluding the recapitalisation process successfully.
This progress marks a crucial phase in building a financial sector fit for purpose, creating buffers not just for stability at home, but for confidence across continents.

Sources: The Cable, Nairametrics