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ARTICLE · 04 JANUARY 2005

CBN Guide To "Marriages" And Acquisitions.

Templars
Templars
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Insight into the effects of the CBN recapitlization directive and guidelines.

NigeriaCorporate/Commercial Law
John Ukpaka
John Ukpaka
Oghogho Akpata
Oghogho Akpata
Yetunde Olasope
Yetunde Olasope

Summary
 Insight into the effects of the CBN recapitlization directive and guidelines.

To Be Or Not To Be…

On the 6th of July 2004, the players in the banking sector received a rude shock from the Central Bank of Nigeria (CBN). The CBN issued a directive mandating all banks in Nigeria to "consolidate" or find other alternatives to raise their capital base to N25 billion, or face liquidation and exit from the banking industry.

To help strengthen the players in the banking sector in a manner that will ensure longevity, higher returns to shareholders over time, greater impact on the Nigerian economy and globalization of the banking sector, the CBN introduced the "Central Bank of Nigeria Guidelines and Incentives on Consolidation in the Nigerian Banking Industry".

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