Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,150,927 members, 7,810,564 topics. Date: Saturday, 27 April 2024 at 11:13 AM

Expedite Action On Recapitalisation, CBN Tells Banks - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Expedite Action On Recapitalisation, CBN Tells Banks (10106 Views)

Notify Customers Before Debt Recovery Moves, CBN Tells Banks / Naira Devaluation: Nigerian Banks Heading For ‘recapitalisation’ / CBN Tells Banks To Issue New Notes Over The Counter - Chika Mbonu (2) (3) (4)

(1) (2) (Reply) (Go Down)

Expedite Action On Recapitalisation, CBN Tells Banks by Islie: 7:43am On Mar 27
The Central Bank of Nigeria (CBN) has directed deposit money banks in the country to expedite action to increase their capital base from the current ₦25bn.

CBN Governor Olayemi Cardoso stated this during the apex bank’s 294th meeting of the Monetary Policy Committee (MPC) on Tuesday in Abuja, when the MPC hiked the interest rate by 22.75% to 24.75%.

The apex bank chief said the MPC examined developments in the banking sector and expressed satisfaction that the industry remained stable. The committee, however, said to guard against risk, commercial banks in the country should accelerate their recapitalisation efforts.

Cardoso said, “The MPC also reviewed developments in the banking system and noted that the industry remains safe, sound, and stable. The committee thus called on the bank to sustain its surveillance and ensure compliance of banks with existing regulatory and macro-potential guidelines.

“The MPC also enjoined the banks to expedite actions on the recapitalisation of banks to strengthen the system against potential risks in an increasingly globalised world.”

Last November, Cardoso, who assumed office two months earlier, had said commercial banks in the country would be directed to increase their capital base to service a $1 trillion economy ambition of the President Bola Tinubu administration.

The last time the CBN increased capital base for banks was in 2005, when the current Anambra State Governor, Charles Soludo, was the apex bank chief. Capital base was raised from ₦2bn to ₦25bn.

https://www.channelstv.com/2024/03/26/expedite-action-on-recapitalisation-cbn-tells-banks/

4 Likes 1 Share

Re: Expedite Action On Recapitalisation, CBN Tells Banks by Elliotwaveforec: 8:20am On Mar 27
Way to go! Weak banks should be acquired and merge with others.

18 Likes 1 Share

Re: Expedite Action On Recapitalisation, CBN Tells Banks by lazkizz(m): 8:39am On Mar 27
Simply Nice step

5 Likes 2 Shares

Re: Expedite Action On Recapitalisation, CBN Tells Banks by Adebaba1(m): 9:00am On Mar 27
How will this policy affect the average Nigerian citizen?
Will it be positive or negative?

1 Like

Re: Expedite Action On Recapitalisation, CBN Tells Banks by Sunofgod(m): 9:00am On Mar 27
Should be easy given the inflation since Jagapants took over.

1 Like

Re: Expedite Action On Recapitalisation, CBN Tells Banks by SoNature(m): 9:02am On Mar 27
Yemi Cardoso looks like he's going to do a great job. On the other hand, Emefiele was the worst CBN governor.

49 Likes 4 Shares

Re: Expedite Action On Recapitalisation, CBN Tells Banks by Bizibi(m): 9:02am On Mar 27
Dividend go reduce, excuse don dey ground be that
Re: Expedite Action On Recapitalisation, CBN Tells Banks by ThinkWISELY(m): 9:03am On Mar 27
Unrelated but if you know the kind of calibers that graces Nairaland, especially first page on front page topics, they can change your life in a second, either positively or negatively grin... your Boss, your family membes, The Feds, CIA, FBI, EFCC, NIA, Celebrities, SSS, DIGs, CEO's, notable public figures, Professors, highly intellectuals and reputable personalities in their various fields etc, you would never use wrong words in your life again grin grin .

Enjoy Nairaland and use it positively, a lot have been picked up here, due to what their mouth caused them, a lot have been uplifted too, a lot of dubious ones has been rebuked and disgraced too. You think Seun isn't wise for saying every Nairalander is responsible for what he/she posted grin.

20 Likes

Re: Expedite Action On Recapitalisation, CBN Tells Banks by Toluwanise247(m): 9:04am On Mar 27
Some idiot will not know is for their benefit they will abuse CBN and insult FG
Many banks has fold up and some customers don’t have their money back till today…..
This is not the era where CBN will give loans to individual….

48 Likes 2 Shares

Re: Expedite Action On Recapitalisation, CBN Tells Banks by Confirm4real(m): 9:04am On Mar 27
Job loss loading...
Re: Expedite Action On Recapitalisation, CBN Tells Banks by kenn4rill(m): 9:05am On Mar 27
At least the wahala in the country dey reach everybody. Bank CEOs and owners too go dey crack brains how to meet target

5 Likes

Re: Expedite Action On Recapitalisation, CBN Tells Banks by Jubrilv(m): 9:05am On Mar 27
Ok
Re: Expedite Action On Recapitalisation, CBN Tells Banks by money121(m): 9:05am On Mar 27
Ok
Re: Expedite Action On Recapitalisation, CBN Tells Banks by omoadeleye(m): 9:06am On Mar 27
Adebaba1:
How will this policy affect the average Nigerian citizen?
Will it be positive or negative?


Make una carry una unfortunate life commot public,

Una no dey shame?

10 Likes 2 Shares

Re: Expedite Action On Recapitalisation, CBN Tells Banks by helinues: 9:07am On Mar 27
Toh

How many years left for the new recession?

Capitalists system is bound to have recession in every decade

25 Likes

Re: Expedite Action On Recapitalisation, CBN Tells Banks by sofeo(m): 9:10am On Mar 27
Alright
Re: Expedite Action On Recapitalisation, CBN Tells Banks by ppogba: 9:10am On Mar 27
Bizibi:
Dividend go reduce, excuse don dey ground be that

A senior secondary 2 student of economics knows what determines dividend.

It is too early to hawk your stupidity like GALA.

12 Likes 3 Shares

Re: Expedite Action On Recapitalisation, CBN Tells Banks by pipnator00(m): 9:13am On Mar 27
SoNature:
Yemi Cardoso looks like he's going to do a great job. On the other hand, Emefiele was the worst CBN governor.

To be honest I am VERY hopeful with him.
I was of the view that Naira will exchange at NGN2500 before the end of 2024 but I am beginning to change that view.
As much as I would have preferred Obi as president but what we have now is CERTAINLY better than Buhari.
Buhari just did not care, whether the country burnt or stayed as long as himself and his gangs where enriched/looted as much as they can.
Else how do you justify the excessive "forex round tripping" that happened under Buhari.
To top it off, Buhari borrowed over US$800million like 2 weeks to the end of his tenure in the name of settling judgement debt. Judgement debt indeed!

13 Likes

Re: Expedite Action On Recapitalisation, CBN Tells Banks by jiz: 9:15am On Mar 27
Hope it will bring the naira back to 216/$
Tinubuconomics of creating demand and supply grin

1 Like

Re: Expedite Action On Recapitalisation, CBN Tells Banks by Donbabaj: 9:16am On Mar 27
Best time to buy shares. If you know you know

2 Likes

Re: Expedite Action On Recapitalisation, CBN Tells Banks by Bluntemperor: 9:18am On Mar 27
Adebaba1:
How will this policy affect the average Nigerian citizen?
Will it be positive or negative?

Positive,if we play by the Rules of the game because others,in Saner Clime did it right and are still doing it perfectly well but in Nigeria-greed, corruption and lack of discipline are the reasons for bank industry Weakness and Failures!
When directors wants to be an emergency Billionaires but failed to remind themselves that they are to live by Trust elements of Banking Creed on resources entrusted by the Public in their hands!
Political Manuvering in our Banking industry is just killing and made these Directors to lack focus,as they lack the Courage of saying NO to so much Political affiliations and pressures!

2 Likes 1 Share

Re: Expedite Action On Recapitalisation, CBN Tells Banks by Codes151(m): 9:20am On Mar 27
Adebaba1:
How will this policy affect the average Nigerian citizen?
Will it be positive or negative?
stick to building websites.. u know nothing about policies and economy

5 Likes

Re: Expedite Action On Recapitalisation, CBN Tells Banks by Codes151(m): 9:21am On Mar 27
SoNature:
Yemi Cardoso looks like he's going to do a great job. On the other hand, Emefiele was the worst CBN governor.
Hearing his name dey vex me. Emefiele committed treason and should be hanged..
Re: Expedite Action On Recapitalisation, CBN Tells Banks by Codes151(m): 9:22am On Mar 27
jiz:
Hope it will bring the naira back to 216/$
Tinubuconomics of creating demand and supply grin
ask Buhari what happened to dollars... no tinubu...

and all of u that voted baba (mugu) twice
Re: Expedite Action On Recapitalisation, CBN Tells Banks by SoNature(m): 9:23am On Mar 27
Codes151:
Hearing his name dey vex me. Emefiele committed treason and should be hanged..
Emefiele didn't commit any treason. He just didn't know the job
Re: Expedite Action On Recapitalisation, CBN Tells Banks by Asonaijaaso: 9:24am On Mar 27
Copying the USA model of raising rates.

I hope you are aware that unemployment is minimal in the USA

I hope you are aware their social welfare system is existential and non discriminatory

I hope you are aware their pension scheme is alive and well

Make sure you have adequate safety nets in the vulnerable aspects of the population before you treat everyone like Dangote or Elumelu.

2 Likes 1 Share

Re: Expedite Action On Recapitalisation, CBN Tells Banks by LeyeWrites: 9:29am On Mar 27
In a nutshell,
Re: Expedite Action On Recapitalisation, CBN Tells Banks by id4sho(m): 9:35am On Mar 27
tongue
Re: Expedite Action On Recapitalisation, CBN Tells Banks by MrPristine: 9:47am On Mar 27
How can he be telling them to expedite action on recapitalization without setting a new minimum capital base? Does this man know what he is doing?
Re: Expedite Action On Recapitalisation, CBN Tells Banks by Seankhalifa: 9:47am On Mar 27
may GOD almighty bless the federal republic on Nigeria... i see grate things happening...

1 Like

Re: Expedite Action On Recapitalisation, CBN Tells Banks by happney65: 9:51am On Mar 27
Adebaba1:
How will this policy affect the average Nigerian citizen?
Will it be positive or negative?

Very positive. Infact it is long overdue. Another should have been done like 5years ago

Now,you can put your money in the bank and go to sleep. It wasn't possible before until Obasanjo/Soludo did the current recapalisation of 25Billion.

The triple effect of it is still happening till date. Now we have stronger banks,Fintech banks etc

Maybe this time they will take it to like 100Billion.

The only disadvantages is that due to banks merging,there might be some job loss in the banking sector

Other than that,it is a good thing for the country

11 Likes 1 Share

(1) (2) (Reply)

Banks Fail CBN's Stress Test On Foreign Operations / How Lucrative Is Palm Oil Business / Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 29
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.