• About
  • Advertise
  • Contact
Thursday, October 30, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Economy

CBN Raises Capital Base For Banks To ₦500bln

Vital News by Vital News
March 29, 2024
in Economy
0
CBN Sacks Boards, Management Of  Titan Trust Bank, Keystone Bank, Union Bank, Polaris Bank
Share on FacebookShare on Twitter

The Central Bank of Nigeria (CBN) has raised the capital requirements for commercial banks with international authorization to ₦500 billion.

The CBN Director in charge of Financial Policy and Regulation Department, Haruna Mustafa, announced this in a letter to all commercial, merchant, and non-interest banks and promoters of proposed banks.

He urged all banks to meet the minimum capital requirement within 24 months commencing from April 1, 2024, to March 31, 2026.

According to the statement, the new minimum capital base for commercial banks with national authorization is now ₦200 billion, while the new requirement for those with regional authorization is ₦50 billion.

The bank also disclosed that the new minimum capital for merchant banks would be ₦50 billion, while the new requirements for non-interest banks with national and regional authorizations are ₦20 billion and ₦10 billion, respectively.

RelatedStories

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn

Olubadan Set Up Committee To Revamp Moribund Industries, Revamp Abandoned Ibadan Urban Renewal Programme

‎IMPI Revises Inflation Rate Projection To 14% From 17% For December

FAAC Shares N2.103 trillion September 2025 Revenue Among FG, States, LGs

The declaration was made only a few days after Olayemi Cardoso, the Governor of the CBN, asked deposit money institutions to recapitalize their capital bases as soon as possible to bolster the financial sector.

Cardoso, who took office two months earlier, had stated in November of last year that the nation’s commercial banks would be required to boost their capital bases in order to support President Bola Tinubu’s administration’s goal of a $1 trillion economy. (vitalnewsngr.com)

 

Tags: bankscapitalcardodoCBN
Previous Post

HOW PETER OBI LOST THE CHRISTIAN VOTE AND IS NOW CHASING THE MUSLIM VOTE By JESUTEGA ONOKPASA.

Next Post

Stop Denigrating Nigeria In Your Sermons, Tinubu To Clerics

Vital News

Vital News

RelatedStories

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn
Economy

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn

October 27, 2025
Olubadan Set Up Committee To Revamp Moribund Industries, Revamp Abandoned Ibadan Urban Renewal Programme
Economy

Olubadan Set Up Committee To Revamp Moribund Industries, Revamp Abandoned Ibadan Urban Renewal Programme

October 23, 2025
‎IMPI Welcomes First Interest Rate Cut In Five Years, Says CBN Decision Aligns With Its Projection
Economy

‎IMPI Revises Inflation Rate Projection To 14% From 17% For December

October 22, 2025
FAAC Shares N2.22 trillion August 2025 Revenue Among Federal, States, Local Governments
Economy

FAAC Shares N2.103 trillion September 2025 Revenue Among FG, States, LGs

October 17, 2025
Dangote Seeks Urgent Legal Backing For “Nigeria First” Policy To Drive Growth In Manufacturing Sector
Economy

Dangote Seeks Urgent Legal Backing For “Nigeria First” Policy To Drive Growth In Manufacturing Sector

October 16, 2025
Next Post
ECOWAS Plans Standby Force To Counter Terrorists, Promises To Ease Sanctions On Niger Republic If …..

Stop Denigrating Nigeria In Your Sermons, Tinubu To Clerics

Ododo Celebrates President Tinubu @72

Ododo Celebrates President Tinubu @72

Go After Terrorists, Restructure Nigeria Now – Afenifere Urges Tinubu

Abiodun Congratulates President Tinubu On 72nd Birthday

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Nigeria’s GDP grows by 3.11pct in Q1 2022

3 years ago
Bandits Kill 7 Persons, Abduct 200 Others In Niger State

Terrorists Kill 7 Policemen, 4 Civilians In Zamfara Community

1 year ago
Shock As APC NWC Member Dumps Party For SDP In Kogi

BREAKING – Muritala Yakubu Ajaka Emerges Kogi East Consensus Governorship Candidates

2 years ago
Student Loan Programme For Both Federal, State Institutions – NELFUND

Education Loan : 60,000 Students Registered But Only 35,000 Applied For Loan – NELFUND

1 year ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu US
No Result
View All Result

Highlights

Dangote Cement Records ₦743.3 billion Profit After Tax In Nine Months, Achieves 165% Growth In EPS

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn

Aliko Dangote Foundation Flags Off National Initiative To Promote Fermented Foods For Nutrition And Food Security

President Tinubu Hails Oloye Lekan Alabi At 75

ARMTI, Abia State Partner To Create Wealth For Farmers, Opens Regional Office In South-East

More Than 65% Of Diseases Suffered By Nigerians Are Livestock Related – NVMA President

Trending

BHPF : President Tinubu Approves Immediate Release Of N29,284,145,353.78 To 36 States,FCT
Judiciary

President Tinubu Orders Removal Of Murder, Drug, Fraud, Human Trafficking Convicts From Pardon List

by Vital News
October 30, 2025
0

Following public outcry, President Bola Tinubu has directed the removal of the names of those convicted of...

CONTRACTORS, GOVERNMENT AGENTS AND THE STABILITY OF NIGERIA BY DR AUSTIN ORETTE

October 28, 2025
AN INSIGHT INTO CHINA’S FIVE-YEAR PLAN FOR SUSTAINABLE DEVELOPMENT By Lawal Sale 

AN INSIGHT INTO CHINA’S FIVE-YEAR PLAN FOR SUSTAINABLE DEVELOPMENT By Lawal Sale 

October 28, 2025
Dangote Cement Set To Commission 3Mta Grinding Plant In Côte d’Ivoire

Dangote Cement Records ₦743.3 billion Profit After Tax In Nine Months, Achieves 165% Growth In EPS

October 28, 2025
FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn

October 27, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • President Tinubu Orders Removal Of Murder, Drug, Fraud, Human Trafficking Convicts From Pardon List October 29, 2025
  • CONTRACTORS, GOVERNMENT AGENTS AND THE STABILITY OF NIGERIA BY DR AUSTIN ORETTE October 28, 2025
  • AN INSIGHT INTO CHINA’S FIVE-YEAR PLAN FOR SUSTAINABLE DEVELOPMENT By Lawal Sale  October 28, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In