Market News

Nigeria's central bank on Thursday announced new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorization at 500 billion naira ($353.32 million).

The Central Bank of Nigeria said it is also setting a new minimum capital base for commercial banks with national authorization at 200 billion naira, while setting the new requirement for those with regional authorization at 50 billion naira.

($1 = 1,415.1300 naira)