Browsing: Sidi Ali

The Central Bank of Nigeria recently announced new minimum capital requirements for banks, setting the minimum capital for commercial banks with international authorization at N500bn, after encouraging Nigerian banks to strengthen their financial system by increasing their capital base.

The Central Bank of Nigeria has declared that it has effectively cleared all valid foreign exchange backlogs, getting rid of an old burden. This achievement fulfills a promise made by CBN Governor, Mr Olayemi Cardoso, to deal with an inherited backlog of $7bn in claims. The announcement was made by the bank's Acting Director of […]