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Sunday, April 28
Vanguard: In a statement yesterday, the CBN unveiled new minimum capital requirements for banks, raising the minimum capital base for commercial banks with international authorisation by 900 per cent to N500 billion from N50 billion.
In a circular signed by the Director, Financial Policy and Regulation Department, Haruna Mustafa, the apex bank gave all commercial, merchant, and non-interest banks and promoters of proposed banks 24 months, commencing from April 1, 2024, and terminating on March 31, 2026, to meet the requirements..
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