On the 28th of March, 2024, the Central Bank of Nigeria (CBN) issued a Circular to all Commercial, Merchant and Non-Interest Banks informing them of an upward review of the minimum capital requirements of their banks and mandating them to raise and maintain adequate capital in order to ensure the resilience of the Nigerian economy. This is despite the fact that Nigeria was the only major economy in Africa that had its banks have a positive return in equity between 2016 and 2022.  This is not the first time Nigeria is undergoing a recapitalisation policy however. In 2004, there was also a recapitalisation policy.

Alikor, a Nigerian economist, on the 2004 recapitalisation policy.

You can read Musa's 2004 Recapitalisation Policy here.

Extra links:

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Subscribe to Whatspodcasting podcast recommendation⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Our podcast:

Contact : ⁠⁠⁠⁠⁠⁠whatspodcasting⁠⁠⁠⁠⁠⁠ on x or email: ⁠⁠⁠⁠⁠⁠[email protected] ⁠