- About N1.62 trillion has dipped from the market capitalisation of banking stocks listed on the Nigerian Exchange
- This occurred amid reforms in the banking sector aimed at strengthening the sector by increasing capital
- The Central Bank of Nigeria gave Deposit Money Banks instructions to recapitalise by the end of March
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
The market capitalisation of banking equities listed on the Nigerian Exchange has decreased by around N1.62 trillion after the Central Bank of Nigeria ordered the nation’s banks to recapitalise.
Deposit Money Banks were instructed in March to recapitalise by the Central Bank of Nigeria.
According to the CBN circular, this round of recapitalisation will only recognise the share capital and share premium items on the shareholder fund component of the balance …