CBN Governor Calls for Increase in Banks' Capital Base

The CBN governor, Dr Olayemi Cardoso, emphasized the need for banks in Nigeria to increase their capital base to support the country's goal of achieving a $1 trillion economy. The current minimum capital base of N25 billion is insufficient, falling short of the standards set in 2005.

The CBN governor, Dr Olayemi Cardoso, stated at the 2023 Banker's dinner that banks in Nigeria need to increase their capital base to meet the needs of a $1 trillion economy. The current minimum capital base of N25 billion is now worth only $32.

5 million, falling short of the standards set in 2005.

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CBN Governor Banks Capital Base Nigeria Economy Minimum Capital Base Standards

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