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Recapitalization: Banks require N4.7trn to meet CBN’s new benchmark capital

The Central Bank of Nigeria Building

Banks in Nigeria may require up to N4.7 trillion to meet the recapitalization benchmark prescribed by the Central Bank of Nigeria, CBN. Findings from the audited and unaudited financial positions of 12 leading banks in the Nigeria Exchange Limited indicated a funding gap of N2.8 trillion while others outside the Exchange is estimated at N1.9 trillion.

Paystack acquires Brass, appoints new CEO

Brass, a Nigerian banking startup, has been acquired by Paystack-led investors and other investors, including PiggyVest, Ventures Platform, and P1 Ventures.

Google Pay will now display card perks and more

Google Pay is rolling out a number of updates that capitalize on its integrations with other Google products, like Android and the Chrome browser.

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Zenith Bank Appoints Dame (Dr.) Adaora Umeoji as GMD/CEO

Zenith Bank Plc has announced the appointment of Dame (Dr.) Adaora Umeoji, OON, as Group Managing Director/Chief Executive with effect from June 1, 2024

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Mary Ogunleye
Best Trade Nigeria Ltd

We hope you find these insights valuable for your ongoing endeavors. As always, we welcome your thoughts and feedback.

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