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‘CBN’s bank recapitalisation, FX reforms to strengthen economy’

The CBN's bank recapitalisation and foreign exchange reforms are expected to strengthen the Nigerian economy and help achieve a $1 trillion GDP by 2030. Banks are directed to increase their capital, with a two-year recapitalisation exercise underway since April 1, 2024, mandating new minimum capital requirements for different bank licenses. These measures aim to enable banks to take on greater risks, provide more loans to underserved markets, and enhance financial inclusion.
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