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(From This Day (Nigeria) - AAGM)
Byline: Kunle Aderinokun
The Central Bank of Nigeria (CBN) has said that if banks willing to raise funds from the capital market to meet the N25 billion minimum capitalisation requirement are allowed to after the deadline lapsed last Friday, the restructuring programme would be jeopardised.
The CBN had in a circular dated September 20 asked banks intending to raise funds from the capital market to start the process before the end of September in order not to jeopardise the restructuring programme. The circular stated the positions of both the CBN and the Securities and Exchange Commission (SEC). Signed by Director, …