Regulatory Alerts2013-04-08 | BSD/DIR/GEN/RFS/06/016Re: Letter To Banks On The Recapitalization of Foreign Subsidiaries
The Central Bank of Nigeria clarifies its previous stance on foreign subsidiary recapitalization by banks. It will now consider such applications in cases where a bank's capital is impaired due to business losses, the increase aligns with banking operations, when setting up a new subsidiary, or if the host regulator's requirements are reasonable and consistent with the environment. Capital export for recapitalization will not be approved if discriminatory guidelines favor local banks or if the capital requirement poses undue risk to the bank.
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capital
advisory