CBN increases commercial banks capital base to N500bn

Nigeria’s Central Bank, on Thursday, unveiled new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorisation at N500bn. This is coming days after the apex bank urged Nigerian banks to expedite action on the recapitalisation of their capital base to strengthen the financial system. This was according to a statement released by the apex bank on Thursday. The statement reads, “Confirming this in Abuja, on Thursday, Acting Director, Corporate Communications Department, Mrs. Sidi Ali, said the new minimum capital base for commercial banks…

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Police arrest 8 suspects over murder of 6 Police officers in Delta

ACP Olumuyiwa Adejobi, the Force Public Relations Officer of the Nigerian Police Force said the police have arrested eight suspects in connection with the murder of its officers on a fact-finding mission in the Ughelli area of Delta. Speaking in Abuja on Saturday, Adejobi said the officers on a fact-finding mission, were on Feb. 23, ambushed while others on a rescue mission were also ambushed, resulting in the death of six police officers. He said the arrest followed intensive investigative efforts of police operatives. According to him, five suspects were…

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