Business News

NDIC Supports CBN’s Move to Recapitalise Nigerian Banks

Alpha Merchant Bank NDIC

By Adedapo Adesanya The Nigeria Deposit Insurance Corporation (NDIC) has lauded the Central Bank of Nigeria (CBN) for its move to recapitalise Nigerian banks to achieve economic resilience in the country and pledged a seamless collaboration towards achieving the effort. Recall that the CBN mandated financial institutions to recapitalise within the next 24 months based on their spread. This ranged from N10 billion to as high as N500 billion. The Managing Director of NDIC, Mr Bello Hassan, who made the commendation during the NDIC Special Day at the ongoing 35th Enugu International Trade Fair, said the agency would continue to