TSA: CBN To Delicence Three Banks | Independent Newspapers Limited
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TSA: CBN To Delicence Three Banks

Posted: Nov 21, 2015 at 9:56 am   /   by   /   comments (0)

By Isuma Mark in Abuja
As the operation of the Treasury Single Account exposes some banks which had been steeped in shady deals, the Central Bank of Nigeria (CBN), on Friday threatened to delicence three banks which it failed to name.
The banks, in which sources at the apex bank said had been notified have until June 2016 to recapitalise after they failed to hit a minimum capital adequacy rate of 10 per cent.
At least three banks have failed to meet the 10 per cent minimum capital adequacy rate the implementation of the Treasury Single Account started. TSA operation has created an unseasy calm within the banking sector in the country known for brazen and backdoor capital aquisition. So far, not less than N1.5trn has been withdrawn from commercial banks in the country.
It is instructive to note that the capital base for commercial banks in Nigeria is N25bn.