As banks in Nigeria race to meet the recapitalization demands spelt out by the Central Bank of Nigeria, four of the tier-one banks in the country are targeting the sum of $2.6bn from both local and international capital markets via rights issues.
The tier-one banks are Access Holdings, Guaranty Trust Holding Company, United Bank for Africa Plc and FBN Holdings.
This development comes barely one month after the apex bank directed Deposit Money Banks to recapitalize in order to strengthen the Nigerian banking system, especially against the background of prevailing macroeconomic challenges.
