By Newsshelve Finance Correspondent.
Nigeria’s top five banks are currently facing a challenge in meeting the new capital requirements set by the Central Bank of Nigeria (CBN), with a total deficit of approximately N1.5 trillion.
The CBN has mandated that each of the five lenders – Access Bank, First Bank, GTBank, UBA, and Zenith Bank – must maintain a minimum capital base of N500 billion, totaling N2.5 trillion in paid-up capital and share premium.
However, the combined paid-up capital and share premium of the top five banks currently stands at N1.037 trillion, falling short by N1.472 trillion.
Access Bank has a paid-up capital of N251.811 billion, FBN Holdings at N251.3 billion, GTBank at N138.186 billion, UBA at N115.815 billion, and Zenith Bank at N270.745 billion.
With deficits ranging from N229.255 billion to N384.185 billion, these premier lenders are now in a race to bridge the gap and meet the new capital requirements imposed by the CBN.
The challenge ahead is significant, but with strategic planning and financial management, Analyst believe that these premier lenders will be able to fulfill the apex bank’s new requirements.
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