Find the latest bookmaker offers available across all uk gambling sites www.bets.zone Read the reviews and compare sites to quickly discover the perfect account for you.

CBN issues licences to 3 new banks

The Central Bank of Nigeria has issued licences to three new banks.

According to an updated list made available on the apex bank’s website, the number of banks has increased to 23 from 21.

The CBN also issued a licence to a non-interest bank, increasing the number to two.

The new deposit money banks are Titan Trust Bank Limited and Globus Bank Limited.

TAJ Bank Limited also joins Jaiz Bank as a non-interest bank.

Bank recapitalization is the act of changing the capital structure of a bank to provide more equity funds to meet the bank’s long-term financing needs to ensure the security of shareholders fund.

In July 2004, the CBN announced the recapitalization of the banking sector from N2 billion to N25 billion with effect from December 31, 2005.

This led to the reduction in the number of banks to 24 from 89.

A number of mergers saw that figure drop to 21.

About Younews Ng

Check Also

Farmers raise alarm as herdsmen invade settlements in Osun

Imminent food shortage in State of Osun as a result of uncontrolled activities of herdsmen ...

Leave a Reply

Your email address will not be published. Required fields are marked *