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The Central Bank of Nigeria has been projected to raise the minimum capital requirement for commercial banks with international banking licenses to N907.27 billion from N50 billion.<\/p>\n

A Banking Sector FY 2024 Outlook produced by CardinalStone Securities disclosed this in its recent report.<\/p>\n

The report projected that banks\u2019 capital base might rise from N181.85 billion for regional banking licences to N909.27 billion for international banking licenses to meet the federal government\u2019s N1 trillion economy.<\/p>\n

\u201cBanks may be expected to boost capital base to between N181.85 billion (for regional banks) and N909.27 billion (for international banks), given 2024 real GDP of $472.6 billion and exchange rate of N841.61\/$ as of December 20, 2023\u201d, the report said.<\/p>\n

The development came after Central Bank of Nigeria governor, Olayemi Cardoso said the apex bank would ask lenders to raise more capital to support the Federal Government\u2019s vision to grow the economy to a $1 trillion economy.<\/p>\n

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CBN mulls new round of bank recapitalization<\/p>\n<\/blockquote>\n

CBN to increase banks\u2019 capital base to N907bn \u2013 Report<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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