Afreximbank Urges CBN To Commence Recapitalization Of Banks In Nigeria

The floating of the naira may force banks and major companies in Nigeria to recapitalize in other to absorb the shocks of the currency depreciation, the African Export Import Bank (Afreximbank) has said.

The floating of the naira is already throwing a spanner on bank valuation. Asides from banks, billionaire businessmen are counting losses as their naira-denominated investments are shedding their value in dollar terms.

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