Olayemi Cardoso, the governor of the Central Bank of Nigeria, has disclosed that no Nigerian bank is under pressure over recapitalisation.
Cardoso made this known in a communiqué after the recently concluded 295th Monetary Policy Committee meeting in Abuja.
The banks are required to meet the minimum capital requirement within 24 months, commencing April 1, 2024, and terminating March 31, 2026.
According to Cardoso, the recapitalisation of banks in Nigeria is geared towards making them more robust to withstand shocks and support the $1 trillion economy envisaged by the Federal Government.
He further noted that the Nigerian banking system is sound and resilient.
“It’s our responsibility to ensure it remains sound, safe, and fit for purpose,” Cardoso said.
“We are not putting any of the banks under pressure regarding recapitalisation,” he added.