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The Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso, has disclosed that 20 Nigerian banks person successfully raised a full of N4.05 trillion arsenic portion of the ongoing recapitalization exercise, up of the March 31, 2026 deadline.
Cardoso made the disclosure connected Tuesday during a property briefing pursuing the 304th Monetary Policy Committee, MPC, gathering held successful Abuja.
According to him, portion 20 banks person afloat met the caller minimum superior requirements, 13 others are inactive moving towards compliance but are yet to scope the stipulated threshold.
Providing a breakdown of the funds raised arsenic of February 19, 2026, the CBN politician said 71.67 percent of the full magnitude was sourced domestically, portion 28.33 percent came from overseas investors.
He explained that N2.90 trillion — astir 71.6 percent — was mobilized wrong Nigeria, whereas $706.84 million, equivalent to N1.15 trillion oregon 28.33 percent, was attracted from overseas participation.
“This equilibrium represents a premix of home and overseas investments, reflecting wide capitalist engagement and sustained assurance successful the banking sector,” Cardoso stated.
The recapitalization program, which commenced successful March 2024, is aimed astatine strengthening the fiscal strategy and positioning banks to enactment economical growth.
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