The Central Bank of Nigeria (CBN) has raised the minimum capital base for commercial banks with international standing to N500 billion.
The CBN’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, who confirmed the development in a circular made available to journalists on Thursday in Abuja, said the apex bank set a N200 billion threshold for national banks and N50 billion for their regional counterparts.
Also, non-interest banks with national and regional authorizations are expected to shore up their capital base to N20 billion and N10 billion respectively within 24 months beginning from April 1.
