Nigerian banks fail to meet requirements for CBN's CAR stress test

This was disclosed by the apex bank in its second economic quarter report on the financial soundness indicator.

The CAR is CBN’s regulatory requirement set up to monitor the minimum level of capital maintained by each bank to ensure its ability to absorb potential losses.

The report revealed a drop in the banking system’s CAR which dropped by 3.0 percentage points to 11.2% notably below the 15.0% mark set for banks with international authorisation.

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