Naija News looks at the top happenings making headlines on the front pages of Nigeria’s national newspapers today Friday 29th March 2024.
The PUNCH: Barely 48 hours after restating the need to increase the capital base of Deposit Money Banks for improved productivity, the Central Bank of Nigeria has announced new guidelines on its recapitalisation policy for banks in the country. The new guidelines were disclosed in a statement signed by its Acting Director, Corporate Communications, Sidi Ali, in Abuja on Thursday.
Vanguard: In a statement yesterday, the CBN unveiled new minimum capital requirements for banks, raising the minimum capital base for commercial banks with international authorisation by 900 per cent to N500 billion from N50 billion.
The Nation: A traditional ruler, Clement Ikolo Ogenerukeywe, has been detained by the Delta State Police command in connection with the killing of 17 officers and soldiers of the Nigeria Army 15 days ago. The state Police Commissioner Abaniwonda Olufemi said Oghenerukevwe, who is the Urhukpe I of Emu Kindom, “turned himself in” shortly after the Defence Headquarters declared him and seven other wanted.
Daily Trust: The Central Bank of Nigeria (CBN) has pegged the minimum capital base for commercial banks with international authorisation at N500 billion. In a circular signed by the Director, Financial Policy and Regulation Department, Haruna Mustafa, the apex bank gave all commercial, merchant, and non-interest banks and promoters of proposed banks 24 months, commencing from April 1, 2024, and terminating on March 31, 2026, to meet the requirements.
