The Central Financial institution of Nigeria is ready to carefully monitor the Nigerian banking sector’s recapitalisation alongside regulation enforcement companies.
This transfer is meant to forestall the inflow of illicit financing into the sector.
The Director of the Monetary Coverage and Regulation Division on the CBN, Haruna Mustafa, disclosed this in a round on Friday.
The round was addressed to business, service provider, and non-interest banks, together with promoters of proposed banks, on the brand new minimal capital necessities for banks.
With the collaboration of related regulation enforcement companies, the financial institution goals to make sure that the capital raised in the course of the recapitalisation course of is free from the taint of illegality.
Particulars later…
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