Five months after the Central Bank of Nigeria’s banking recapitalisation window closed, Nigerians are justified in asking an uncomfortable question, which is, what exactly did the N4.65 trillion raised by the banks buy for the Nigerian economy? The banks have become bigger, better capitalised and are making extraordinary profits. But is the Nigerian economy receiving the credit it was promised? That is the question the banking industry can no longer dodge. The CBN gave banks 24 months to meet new minimum capital requirements, in one of the most consequential banking…
Read MoreN4.65TRN RECAPITALISATION: ARE BANKS FINANCING NIGERIA’S ECONOMY OR GOVERNMENT?
