Regulatory Alerts2024-03-28 | FPR/DIR/PUB/CIR/002/009Added · Updated
Review of Minimum Capital Requirements for Commercial, Merchant and Non-Interest Banks in Nigeria
The Central Bank of Nigeria (CBN) is raising the minimum capital requirements for commercial, merchant, and non-interest banks to enhance their resilience and solvency in the face of macroeconomic challenges. Banks have 24 months, from April 1, 2024, to March 31, 2026, to meet the new requirements, which range from 10 to 500 billion Naira depending on the bank's license category and authorization. The CBN will monitor compliance and has provided guidelines and FAQs to ensure a smooth transition.
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