Abuja, June 5, 2024 – The Central Bank of Nigeria (CBN) says it has plans to withdrawal additional banking licences after that of Heritage Bank.
It said the clarification was against the backdrop of some information circulating in the public domain suggesting that the apex bank is to revoke the licence of three additional banks.
Mrs. Hakama Sidi Ali, the CBN Acting Director, Corporate Communications, in a statement, described the allegations as false and intended to trigger panic in the financial system.
She maintained that the Nigerian financial system remained safe, sound, and resilient, adding that the ongoing recapitalisation of the industry would boost capital injection among others.
“Our banks have begun submitting implementation plans for the Banking Sector Recapitalisation Programme in compliance with the CBN Circular reviewing the minimum capital requirements for Commercial, Merchant, and Non-Interest Banks (CMNIBs).
“These plans are currently being reviewed by the bank. In addition to enhancing buffers to withstand economic shocks, this proactive measure by the CBN to require CMNIBs to recapitalise will result in increased capital for Nigeria’s banks, enabling them to provide much-needed credit to critical sectors of the economy,” she said.
