Standard Chartered Bank Nigeria Limited has announced that it has successfully met the Central Bank of Nigeria’s N200 billion minimum capital requirement for national commercial banks ahead of the March 2026 deadline. The recapitalisation exercise follows the Central Bank’s March 2024 directive requiring banks to strengthen their capital base to enhance financial stability and support economic growth. According to the bank, achieving the new capital threshold ahead of schedule demonstrates its strong financial foundation and long-term commitment to the Nigerian market. The bank emphasized that the increased capital base would enable it to deepen investments in key sectors of the economy, expand financing opportunities for businesses and individuals, and contribute significantly to Nigeria’s economic transformation. The Chief Executive Officer, Dalu Ajene, described the accomplishment as a reflection of the bank’s confidence in the resilience and growth potential of the Nigerian economy. Similarly, the Chief Financial Officer, Dayo Omolokun, noted that the recapitalisation underscores the institution’s strategic commitment to Nigeria and strengthens its capacity to provide innovative financial solutions. The development also positions the bank to contribute more effectively to the Federal Government’s aspiration of building a one-trillion-dollar economy by 2031 while reinforcing the stability and competitiveness of Nigeria’s banking sector.
Index to Nigerian Newspapers
