“NACCIMA Prepares to Engage Stakeholders on Bank Recapitalization Policy”

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The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has announced its intention to initiate discussions with relevant stakeholders regarding the Central Bank of Nigeria’s (CBN) new guidelines on bank recapitalization.

 

In a statement issued by the National President of NACCIMA, Dele Oye, the organization expressed cautiousness and prudence in approaching the recent CBN policy directive aimed at increasing Tier 1 and Tier 2 banks’ capital base to N500 billion and N200 billion, respectively.

 

Highlighting the significance of the policy shift within the banking sector and its potential implications on the broader macroeconomic landscape, Oye emphasized the need for a thorough analysis. NACCIMA intends to await the release of the complete policy framework by the CBN and the government before formulating a response.

 

Oye stated, “It is imperative to highlight NACCIMA’s approach to this matter as one of caution, prudence, and thorough analysis. As such, we intend to engage in consultations with our stakeholders and await the disclosure of the complete policy framework from the CBN and the government.”

Acknowledging the importance of maintaining a robust banking system, NACCIMA refrained from offering a definitive opinion on the policy until a thorough understanding of its objectives and implications is obtained from regulatory authorities.

 

The organization underscored its commitment to safeguarding the interests of private citizens and promoting the public good. NACCIMA stands ready to engage constructively with all relevant parties to facilitate an informed discourse on the critical issue of bank recapitalization.


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