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Nairaland Forum / Nairaland / General / Business / CBN Pegs Minimum Capital Base For Banks At ₦500 Billion (16457 Views)
N500b Capital Base: Capital Needed By Commercial Banks With International Spread / CBN May Raise Banks Capital Base To ₦900 Billion / CBN To Increase Capital Base Of Banks (2) (3) (4)
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Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by omisanjo(m): 7:14am On Mar 29 |
Trash talk Penguin2: 4 Likes |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by Acidosis(m): 7:15am On Mar 29 |
There has always been a non-directional causality between economic growth and banking activities in Nigeria, so this is definitely not a bad idea. It should propel the economy to the extent of our country's realities; implying that we must never be overly expectant given that the majority of individuals and small businesses in Nigeria now rely on fintechs registered as microfinance banks. Omitting digital banks from this development also gives the impression that the focus is more on the inflow of FX $$$ (a very uncertain expectation) rather than on 'economic growth' itself. If economic growth is the concern, there is no justifiable reason under heavens why Cardi B should ignore digital banks/microfinance banks. 3 Likes |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by Tareq1105: 7:20am On Mar 29 |
smasher1: The Odua Govs could decide to raise the shares of their respective state. I know the Govs would step in. 1 Like 1 Share |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by Fmghewzy(m): 7:21am On Mar 29 |
Penguin2: This is what happens when you don't read, but rush to comment. Read the entire article again and see if the question you are asking makes sense or not. 12 Likes 1 Share |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by Komo4dmoney: 7:31am On Mar 29 |
Dindinrin, you're too quick to comment on things you know nothing about. If Soludo hadn't raised the banks' capital from ₦2B to ₦25B in 2005, do you think many commercial banks wouldn't have liquidated, resulting in people losing their money? Are you aware of the country's increasing population and the rising rate of people depositing money in banks every day? Must you comment on every post, especially those outside your expertise? Penguin2: 13 Likes |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by Asiseeit: 7:34am On Mar 29 |
aieromon: Wow. From 75 to 25 banks. Of these 25 banks, some have either merged (IBTC and Stanbic) or even gone out of operations like Afribank, Intercontinental, Oceanic and Co. From the report on this link, the bank with the highest capital base is Zenith bank with 270bn. https://www.vanguardngr.com/2024/03/cbn-new-capital-base-top-5-banks-in-n1-5trn-shortfall/ 2 Likes 1 Share |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by Elliotwaveforec: 7:35am On Mar 29 |
smasher1:Don't be lazy guy! Wema has 118b already projecting 156b this year 3 Likes
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Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by pharmagba: 7:35am On Mar 29 |
seunmsg: One interesting thing that comes to mind is that the Federal government have tactical decided not to.persecute any of the bank chiefs in the fraudulent way they have benefited from the forex in the recent past, i see this as a tactical way of ensuring that the money they made is not personal but ploughed into their respective banks to recapitalize their banks if they indeed love the bank. This is the sacrifice they will all have to make. Instead of building personal empires they will have to build corporate/ public empire 11 Likes |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by rajiedreez: 7:37am On Mar 29 |
Penguin2: No, not really. Recapitalization is long overdue, the size of the economy when they last recapitalized was a fraction of the present size. Exchange rate was also very lower than now. Again our banks hasn't been closing down as it used to be before the last recapitalization, considering the change in the country's economy it's important to change the capital base to accommodate the new dynamic. It also help the bank attract international business and also build public trust because people know that their deposit are safe. This particular one is the reason why most people hasn't been using the likes of Opay, Palmpay, Kuda etc. They believe their not well capitalized 8 Likes |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by Elliotwaveforec: 7:41am On Mar 29 |
Tareq1105:Wema will surpass target without the governors! They're targeting 158b this year end. Are you saying they can't raise 43b in one year? You guys are underestimating the innovative bank. 9 Likes |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by tivta(m): 7:48am On Mar 29 |
Abeg will Ecobank be able to cope? |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by PulaPower: 7:48am On Mar 29 |
People underrated Wema bank a lot.. It’s one of the best & most safest bank in Nigeria.. 8 Likes |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by Krismas(m): 7:50am On Mar 29 |
Penguin2: 1. Why do you think there are too many banks? It’s profitable. Bank annual statements show on average N200billion profits. That’s how much this banks make 2. How do you think they make money? Thru core banking? No. They are into investments, real estate, Forex trading, thin capitalization and all manner of things they should have left for other sectors. 3. Consolidating these banks will curb needless proliferation of banks and force the existing ones to focus more on the traditional role of banking 4. It will instill more confidence in foreign investors. 6 Likes |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by AngelicBeing: 7:51am On Mar 29 |
emkz:Gbamsulotely, end of thread
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Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by Hammylawali: 7:56am On Mar 29 |
Paraman: You will be shocked that both wema and unity bank will stand strong and meet all the requirements. 3 Likes |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by ShenTeh(m): 7:58am On Mar 29 |
Where my darling Sterling bank wan see ₦200b now? That said, against the ₦25bn capitalization of 2006 peripersu the exchange rate and total inflation, cost of money and the cost of doing business, it is not a real change. I believe most if not all Nigerian global banks can afford that ₦500bn. I was expecting it to be ₦1trn. I can't say the same for our local and regional banks. In 2006: ₦25b @₦130 per USD was about $192m. 2024: ₦500b @₦1400 per USD is about $357m. If we discount YoY 18 yrs $ to $ inflation @ about 20% gross I don't think this figure from the CBN is bad. Good for the economy. 6 Likes |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by Elibaba1: 8:00am On Mar 29 |
Penguin2: Brilliant ‼️ |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by jaxxy(m): 8:00am On Mar 29 |
clowns |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by ttmax09(m): 8:08am On Mar 29 |
Sirtee19:that cos of our currency, I'm guessing SA banks dominates this list, check out the value of Rands to dollars. 1 Like |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by MichaelUweh(m): 8:11am On Mar 29 |
Wema bank I know is even stronger ther many commercial banks in Nigeria. They pay their staff far far better than the likes of UBA, Polaris, Fidelity, etc. Paraman: 2 Likes |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by STYCNig(m): 8:12am On Mar 29 |
WHAT A LAUGHING STOCK! N500b is dam too tiny as capitalization for corporate commercial banking institutions... What has banks been doing with their bugus profits? What a degenerating system? How can a single individual be more richer than a corporate commercial bank? How on Earth could that happened in a sane economy? For me, it should be a minimum of N10trillion, N500b should be for Microfinance banks. - Banks Capitalization in America is in Trillions of dollar... - Banks Capitalization in Europe is in Billions of Euros... - Banks Capitalization in South Africa is even in Billions of Dollar... WHILE BANKS CAPITALIZATION IN THE SUPPOSED BIGGEST ECONOMY OF AFRICA IS JUST A LITTLE ABOVE $300M WHAT THIS MEANS IS THAT: 1. Banks had long abandoned real banking business into corruption, money laundering, stealing by tricks from customers etc. 2. How can we have a country of billionaires yet corporate commercial banks capitalization is just N500b $300m? - This means we dont have economy yet in Nigeria... 3. It means all banks in Nigeria are broke by default and prone to liquidation... 4. It means the top 3banks in America are more richer than all commercial banks, microfinance banks, mortgage and insurance companies in Nigeria... 5. This is why we dont have best brains investors coming to Nigeria and they will never come - bcoz an investor can not imagine how his company is more richer than any corporate commercial bank in Nigeria - if such company gets into financial trouble, which of the banks will they run to for help? 6. How can a first class investor come into Nigeria having known that his investment alone is more richer than all the insurance company? How will they protect their businesses? Insurance is to help business, but here a company will be the one helping insurance to grow - how would such insurance pay indemnity! This is ridiculous. 7. A tiny N500b capitalization means banks have not, over the years reinvested their profits and CBN must be blame for this, not imposing that 40-60% of banks profits MUST go into banking reinvestment. 8. How can any Group of Company in Nigeria be richer than a corporate commercial bank as we have seen in this narration? 9. It also means Oil sector companies are more richer than banks in Nigeria? It also means private businesses are the ones sustaining commercial banks, this is why when private businesses crumble, banks seems to be in crisis. 10. Honestly we dont have a banking system in Nigeria, what we have are custodians of money institutions! YET WE HAVE HARVARD & OXFORD CERTIFICATE HOLDERS AS CMDs, CEOs OF BANKS IN NIGERIA! What a laughing stock! LET'S NOTE THAT; A bank should be so rich that it can Fund a National and State Budget and charge profit from funding same! Nigeria don't understand Practical Economics and Economy, they get themselves complicated with theories! Practical Economics is define as A common sense from a diversified perspective into a unified perspective for equal and collective benefits of all stakeholders. Its start from Strategic Planning. Untill we have a well planning structure and system, sorry, Nigeria should continue with their usual prayers. 10 Likes |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by MichaelUweh(m): 8:15am On Mar 29 |
I concur. Secondly many people will lost their job due to the merger. It isn'ta good policy at all. Penguin2: |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by Basicend: 8:18am On Mar 29 |
Tareq1105: Yes, Nigeria will prosper again. Even gradually under Tinubu administration. It is not because of Tinubu, please understand this, but because of a prayers of a very few righteous ones. 2 Likes 1 Share |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by Rejouir: 8:20am On Mar 29 |
Most banks would either lay off staffs than downgrade. |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by Basicend: 8:31am On Mar 29 |
Asiseeit: The forced collapse of Intercontinental bank is one of the biggest conspiracy and mystery ever seen in Africa banking space. It's further acquisition by Access Bank is the funniest scam of an acquisition. It came from no where. Intercontinental Bank was almost bigger than GT and Zenith put together. All of sudden, Sanusi just did abracadabra coz of personal issues. Even banks that had worse debt issues were given space of time to recover and rebuild. 1 Like 1 Share |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by IamANigerianMan: 8:32am On Mar 29 |
Penguin2:I see no reason for this nonsense, this governor of CBN is out to create unemployment |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by Okoroawusa: 8:45am On Mar 29 |
Paraman:There are already designated and operating as regional banks |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by Hotice085: 8:53am On Mar 29 |
seunmsg: Raise fire, who dash 🐵 monkey |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by Toluwanise247(m): 8:55am On Mar 29 |
Penguin2:Is a total waste of time to explain to you the positive advantage. You are not ready to learn, unlearn and relearn. 7 Likes |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by omowumi9: 9:00am On Mar 29 |
What's your level of education? You are such a disgrace to yourself. Let me help you. Your problem is you don't read. People like you only interested in naira bet and the likes. Read what happened before and after Soludo raised banks capitalisation to N25b. Why am I even talking to you! Penguin2: 5 Likes |
Re: CBN Pegs Minimum Capital Base For Banks At ₦500 Billion by HisaacPlus: 9:01am On Mar 29 |
Penguin2: The bolded has exposed the parlous state of your understanding vis a vis banking and economy. And do you know the characteristic of your ignorance? Arrogant and idiotic! 5 Likes 1 Share |
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