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Recapitalisation: ASSIBIFI president underscores impact on banking industry

The article from BusinessDay discusses the views of the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) President, Olusoji Oluwole, on the recapitalization of Nigerian banks. Oluwole emphasized that the Central Bank of Nigeria's (CBN) decision to increase the minimum capital base for banks is crucial for strengthening the financial sector, enhancing banks' capacity to support economic growth, and ensuring they can withstand economic shocks. He highlighted that while the recapitalization would lead to mergers, acquisitions, and possibly job losses, it is necessary for the long-term stability and competitiveness of Nigerian banks on both local and international stages. Oluwole also stressed the importance of managing the process carefully to mitigate adverse effects on employees and to ensure that the benefits of recapitalization are realized without compromising service quality or financial inclusion.

Read the Full businessday Article at:
[ https://businessday.ng/news/article/recapitalisation-assibifi-president-underscores-impact-on-banking-industry/ ]

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