Tag
BANK RECAPITALISATION
FBN Holdings Plc has commenced its Rights Issue, offering 5.983 billion ordinary shares at 50 kobo each, priced at N25 per share, raising N150 billion for existing shareholders.
Mr. Sam Onukwue is the Chairman of the Association of Securities Dealing Houses of Nigeria (ASHON) and a Fellow of the Chartered Institute of Stockbrokers (CIS).
The Management of First City Monument Bank (FCMB) has disclosed plans to raise N150 billion between now and September 2024.
Global ratings agency, Fitch Ratings has stated that the Mergers and Acquisitions (M&As) that would accompany the bank recapitalisation exercise could lead to a more concentrated banking sector with greater barriers of entry and stronger long-term profitability.
The Financial Policy & Regulatory Department of the Central Bank of Nigeria (CBN), Haruna B. Mustafa, has provided reasons for the exclusion of retained earnings of banks in the calculating their new capital in the proposed new capital requirements.
NGX falls for the second consecutive day as investors exhibit caution towards the central bank's recapitalization plans
Credit ratings agency, Agusto and Co have projected that up to N4 trillion of inflow is expected by banks to meet the Central Bank’s new capital requirements if the apex bank could resist pressure to include retained earnings or shareholders’ fund when calculating banks’ new capital.
Bankers are voicing opposition to the Central Bank’s decision to omit retained earnings from the minimum share capital calculation in its recent recapitalization guidelines.
The CBN also stated that all banks are required to meet the minimum capital requirement within 24 months commencing from April 1, 2024, and terminating on March 31, 2026
The Central Bank of Nigeria (CBN) has directed deposit money banks in the country to expedite actions on the increase of their capital base in order to strengthen the financial system against potential risk.
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has announced that the apex bank is set to recapitalise Nigerian commercial banks.