CBN Gov Yemi Cardoso Talk Say 14 Nigerian Banks Don Meet New Capital Requirement

Governor of Central Bank of Nigeria (CBN), Yemi Cardoso, don announce say at least 14 commercial banks for Nigeria don already meet the new capital requirement wey dey part of the ongoing recapitalisation exercise. Him talk this one to show say the sector dey respond well to the new policy wey CBN introduce to strengthen banks.

According to Cardoso, the recapitalisation no be punishment, but na way to make sure Nigerian banks dey strong enough to handle local and international business. He stress say with bigger capital base, banks go fit lend more to businesses and support the country economy well-well.

One finance expert add say, “If banks strong, economy go strong too. Na why recapitalisation dey very important at this time.”

CBN Gov Say Aim Na to Secure Economy and Investors Confidence

The CBN governor explain say the recapitalisation exercise dey targeted at boosting investors confidence and making sure say no bank collapse anyhow. He say Nigerian banks must dey ready to face both domestic wahala and foreign economic shock.

Cardoso also note say banking sector na backbone of economy, and if anything spoil there, Nigerians go suffer. Na why the capital requirement dey important to protect depositors money and make sure banks no dey run like small shop wey fit close overnight.

He further assure say CBN dey monitor all banks to make sure compliance dey steady. The ones wey never meet the requirement still get time to raise capital before deadline knock.

Nigerians Dey Hope Say Stronger Banks Go Bring Better Service

After the announcement, many Nigerians dey react with mixed feelings. Some dey happy say banks don dey stronger, while others dey fear say recapitalisation fit make some smaller banks merge or close shop.

One Lagos businessman talk say, “If this move go make banks get money to lend us at better rate, then na good thing. But make dem no use am as excuse to increase charges for customers.” Another person add, “CBN need to balance am so that both big and small banks fit survive.”

For now, the 14 banks wey don meet requirement dey seen as pacesetters, while others dey rush to meet up. Nigerians dey watch closely to see how this new policy go change banking system for better or for worse.