The Central Bank of Nigeria (CBN) has introduced time-bound measures for a limited number of banks still completing their transition from temporary regulatory support provided during the COVID-19 pandemic.
According to a statement signed by Hakama Sidi Ali, Acting Director, Corporate Communications, this move is part of the CBN’s broader strategy to implement the recapitalization program announced in 2023.
The measures include temporary restrictions on capital distributions, such as dividends and bonuses, to support retention of internally generated funds and bolster capital adequacy.
All affected banks have been formally notified and remain under close supervisory engagement.
The CBN has allowed limited, time-bound flexibility within the capital framework, consistent with international regulatory norms.
The regulator remains committed to continuous engagement with stakeholders throughout this period via the Bankers’ Committee, the Body of Bank CEOs, and other industry forums.
The apex bank assured that Nigeria’s banking sector remains fundamentally strong, and these measures are a continuation of the orderly and deliberate implementation of reforms already underway.
“The CBN will continue to take all necessary actions to safeguard the sector’s stability and ensure a robust, resilient financial ecosystem that supports sustainable economic growth.” The statement read.
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