Banking Consolidation: Mega Banks Boast N10trn Capital Base   As the Central Bank of Nigeria’s proposal to initiate a new banking sector consolidation raises concerns among some industry operators, findings indicate that major banks with foreign subsidiaries currently control N9.6 trillion capital base. This is just data...

CBN Sets New Capital Base For Payment Firms       The Central Bank of Nigeria has set new capital requirements for payment firms in the country. The CBN disclosed the capital requirements in a circular on Monday titled ‘New license requirements for the payments system’. The CBN stated that...

Reps To Raise FMBN’s Capital To N100bn       The House of Representatives is considering raising the capital base of the Federal Mortgage Bank of Nigeria from the current N5bn to N100bn. Also, the mortgage bank may also be opened to private investors and shareholders. These are proposed in...

Naira Depreciation: Insurance Industry Capital Base Crashes To $1bn       Naira’s depreciation has taken a toll on the capital base of the insurance industry. The capital has dropped to $1 billion from $2.2 billion. This was contained in the Agusto & Co. 2021 Nigerian Insurance Industry Report:...

Expert Advocates $10bn Capital Base For BOA   The founder of the Port Harcourt Premier Business School, Dr. Silva Opuola-Charles, has said Nigeria will need to recapitalise the Bank of Agriculture to at least $10bn in the next five years, to significantly boost lending to the...

CBN Plans Fresh Banks’ Recapitalisation As Capital Base Weakens By $3.5bn The depreciation of the naira between 2004 when the last banking sector recapitalisation took place and now has cut the value of the capital of each Deposit Money Bank by about $175m. The recapitalisation of...