Re-capitalisation: Economist urges banks to ensure positive impact

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Re-capitalisation: Economist urges banks to ensure positive impact

By Olawunmi Ashafa

An economist, Dr Boniface Chizea, has urged commercial banks and the Central Bank of Nigeria (CBN) to work together to ensure the proposed re-capitalisation had positive impacts on their operations and economy at large.

Chizea, the Chief Executive Officer, BIC Consultancy Service, made the assertion in an interview with the News Agency of Nigeria (NAN)  in Lagos, while reacting to the Apex bank’s unveiling of the 2019-2024 policy direction.

NAN reports that the CBN Governor, Mr Godwin Emefiele, had on Monday in Abuja during the unveiling of his economic agenda for the next five years expressed the readiness to increase banks’ capital base.

Emefiele noted that the drop in the value of the Naira to the Dollar had weakened the capital of banks.

Chizea commended the CBN governor for thinking through the process and putting down his stance for the growth of the economy.

According to him, the…



Source: News Agency of Nigeria