The Central Bank of Nigeria (CBN) has said that it will soon be announcing a new capital base for banks in the country as it said Nigerian banks were not well capitalised to meet the needs of the economy.

The CBN governor, Dr Olayemi Cardoso, in his first public speech at the 2023 Bankers Dinner on Friday night, said while there has been stability in the banking sector, banks in the country were not adequately capitalised to meet the need of a $1 trillion economy which the present government was aiming to achieve.

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By Bukola Aro-Lambo

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