The CBN said it is set to sell $10,000 to each of the BDC operators at N1101/$ and directed the operators to sell at a spread not more than 1.5 percent above the CBN rate.
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The Acting Director of Corporate Communications Department, Mrs. Hakama Sidi Ali confirmed the capitalization in Abuja, saying the new minimum capital base for commercial banks with national authorization is now N200 billion, while the new requirement for those with regional authorization is N50 billion.
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“We write to inform you of the sale of $10,000 to each BDC at the rate of N1,251/$1. The BDCs are to sell to eligible end users at a spread of NOT MORE THAN 1.5 percent above the purchase price.”
It said that the CBN recently concluded the payment of $1.5 billion to settle obligations to bank customers, effectively settling the residual balance of the FX backlog.
The Nigerian Exchange Ltd. (NGX) market capitalization on Monday closed on a negative note, losing N239 billion. Specifically, the market…
It would be recalled that Cordoso late last year redeployed some of the directors to the FSS 2020 unit of the bank which is under the Governor’s purview but has its office located in the Maitama District – one of the high brow areas in Abuja.