Banks' Recapitalization: Foreign Investors Moving In

- Foreign Investment Influx: The Central Bank of Nigeria (CBN) has announced that foreign investors are moving funds into the country to invest in Nigerian banks under the ongoing recapitalization exercise.

- CBN's Vigilance: The CBN has assured that it will not allow illicit funds into the Nigerian banking industry or permit bad actors to take over banks.

- Recapitalization Exercise: The recapitalization exercise aims to strengthen Nigerian banks and promote sound financial systems in Nigeria, supporting the government's goal to achieve a GDP of $1 trillion by 2030.

- Benefits: The exercise is expected to increase lending capacity, attract foreign investments, improve foreign exchange liquidity, contribute to GDP growth, and promote better risk management and credit ratings.

- CBN's Commitment: The CBN has reaffirmed its commitment to supporting the federal government's target of achieving a $1 trillion economy.

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