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The Central Bank of Nigeria's recent announcement of new minimum capital requirements has stirred significant speculation within the banking sector.
The CBN's directive, which mandates a substantial increase in minimum capital bases across various categories of banks, has placed immense pressure on financial institutions to shore up their capital reserves. Merchant banks face a new minimum capital base of N50 billion, while non-interest banks must meet revised requirements of N20 billion for national authorization and N10 billion for regional approval.
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