There seems to be no going back on the planned recapitalisation of the banks in the country.
The Central Bank of Nigeria, NewsSpecng gathered is enlisting the support of the security agencies to closely monitor the process.
This, according to information is to wade off the influx of illicit financing into the sector.
The circular was addressed to commercial, merchant, and non-interest banks, including promoters of proposed banks, on the new minimum capital requirements for banks.
With the collaboration of relevant law enforcement agencies, the bank aims to ensure that the capital raised during the recapitalisation process is free from the taint of illegality.
