Nigeria Says 30 Banks Meet Capital Threshold Ahead of Deadline

Nigeria’s central bank said 30 lenders have met its new capital requirements threshold ahead of a March deadline, indicating a high level of compliance in record time.

“Thirty banks have met the new minimum capital requirements applicable to their respective license authorizations” as of March 6, the Abuja-based Central Bank of Nigeria said in emailed statement. “Thirty-three banks have raised additional capital through rights issues, initial public offerings, and private placements as part of the programme,” it added.