Business, Management and Accounting
8 years ago

Nigeria's Financial Industry Boosted by New Capital Base Requirements.

SSRN Electronic Journal
Financial Industry Reform and the Capital Base Question in Nigeria
Prof. Onafowokan Oluyombo, Kayode Ogundimu

Paper Summary

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The financial industry in Nigeria has recently undergone significant changes, including raising the minimum capital base for banks and insurance companies. This move aims to align with global standards and improve competitiveness internationally. The increased capital base is seen as a positive development that will help the country and financial institutions adapt to the evolving economic landscape and reduce capital flight.