Another wave of recapitalisation may soon blow in Nigeria’s banking sector. The country’s apex bank, Central Bank of Nigeria (CBN), which gave this hint, kicked against the idea of any institution sharing from its power of “hire and fire” of banks in the Africa’s biggest economy. The banks in the country, like other financial institutions across the World are counting huge losses due to Coronavirus pandemic. CBN particularly demanded the power to retain exclusive right for the licensing of banks and the revocation of same when a bank goes distressed.…
Read MoreNigeria’s CBN hints of fresh banks’ recapitalisation, demands exclusive Right for licensing, revocation
