ADVERTISEMENT
  • Africa
  • World
  • Our Shows
    • Entrepreneurship
    • Destination Business
    • 101business TV Show
Business 360 News
  • Home
  • Africa
    • East Africa
    • West Africa
    • South Africa
  • News
    • Feature
  • Economy
    • Maritime
    • Agriculture
      • Agribusiness
    • Energy
      • Electricty
      • Oil
      • Petrol
      • Gas
  • Finance
    • Insurance
    • Tax
    • Real Estate
  • Capital Market
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
    • EV
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Global Economy
    • UK
    • US
    • Russia
    • CHINA
    • Japan
  • Business 360 Weekly
No Result
View All Result
  • Home
  • Africa
    • East Africa
    • West Africa
    • South Africa
  • News
    • Feature
  • Economy
    • Maritime
    • Agriculture
      • Agribusiness
    • Energy
      • Electricty
      • Oil
      • Petrol
      • Gas
  • Finance
    • Insurance
    • Tax
    • Real Estate
  • Capital Market
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
    • EV
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Global Economy
    • UK
    • US
    • Russia
    • CHINA
    • Japan
  • Business 360 Weekly
No Result
View All Result
Business 360 News
No Result
View All Result
Home Finance Banking

CBN, Stakeholders, Experts Discuss Urgency in Building Economic Resilience as Banking Recapitalization Gains Momentum

Vivian Akinyosoye by Vivian Akinyosoye
April 14, 2025
in Banking, Economy, News
0
Nigeria Records $6.83 Billion Balance of Payment Surplus in 2024, Signaling Economic Revival

In 2024, the Central Bank of Nigeria (CBN) launched a sweeping recapitalization mandate requiring banks to raise their minimum paid-in capital according to license category—international, national, or regional.

The move, aimed at strengthening domestic financial stability, expanding lending capacity, and boosting global competitiveness, was the focus of a high-level 2-day seminar organized by the CBN for business and finance correspondents which commenced Tuesday in Abuja.

The theme of the event “Playing the Global Game: Banking Recapitalization Towards a One-Trillion Dollar Economy,” brought together industry leaders, regulators, and Business and Finance Editors to discuss the ongoing bank recapitalization and its impact on the Nigerian economy.

Delivering the keynote speech, Deputy Governor, Corporate Services, Ms. Emem Usoro, represented by Hajia Hakama Sidi Ali, Acting Director of Corporate Communications, underscored the significance of the initiative amid rising global uncertainty.

She noted that globalization and protectionist policies—especially those surfacing in major economies—demand Nigeria’s readiness to adapt and thrive.

“The push for a new paradigm towards the recapitalization of banks to power a one trillion-dollar economy will no doubt improve the strength and health of the financial system.

“As we work towards building a one-trillion-dollar economy, we must consider the recapitalization of our banks to be able to fund, finance, and power the economy—and favourably compete globally with peers in other climes.

Ken Ife Warns: Global Economic Tsunami Looms

Meanwhile, Chairman of the event, Professor Ken Ife, Chief Economic Strategist at the ECOWAS Commission, in his speech, sounded a stark warning about the global landscape.

He pointed to growing protectionist trends, particularly in the U.S., as dangerous signals that could destabilize global trade, monetary policy, and growth in emerging markets.

“We are not just recapitalizing because of the one-trillion-dollar vision. We are doing it because a tsunami is coming—and Nigeria may take a bigger hit than many African countries,” he cautioned.

“Donald Trump’s vision is rooted in the 1930s, when America lived off tariffs. Today, he’s empowered by the Supreme Court and Congress to set trade policy at will. But history has taught us—protectionism leads to depression, not prosperity.”

Quoting historical parallels from the Great Depression, Ife stressed the risks of condoning inefficiency through tariffs and subsidies.

“When you build tariff walls, you stifle innovation and competition. Eventually, unemployment rises, consumer confidence drops, and economies suffer.”

A Call for Strategic Collaboration

Professor Ife echoed this sentiment, emphasizing that growth, not just reform, is essential to realizing Nigeria’s trillion-dollar ambition.

“Each serves a different part of the economy, and their roles are all crucial. If we don’t grow, we won’t meet that $1 trillion target. Recapitalization is the foundation, but implementation, policy cohesion, and confidence will get us there.”

‘Banks must position themselves to fund infrastructure in Nigeria’

Managing Director of United Bank for Africa (UBA), Oliver Alawuba, in his presentation called for greater faith in local banks and institutions stating that the institution must position itself to fund infrastructure in Nigeria.

He urged policymakers to begin by reallocating at least 10–20% of Nigeria’s reserves to local development efforts instead of relying on foreign borrowing.

“We should stop the mentality of depending on others to fund our own development. Let’s start small—use Nigerian money to develop Nigeria.

“UBA is present in 19 African countries. In some, we hold the reserves of their central banks. If they can trust us, why can’t we trust ourselves in Nigeria?” he asked.

Alawuba also noted that while recapitalization efforts were progressing—with about ₦4.1 trillion already in motion—the CBN must remain flexible, especially amid foreign exchange volatility.

“We are raising capital at a time when the naira is fluctuating. This affects investor confidence. But CBN’s recent interventions are helping stabilize liquidity and rebuild trust. This isn’t just about the big banks. The economy needs every player—from tier-one institutions to regional banks,” Alawuba said.

Previous Post

FG Reaffirms Commitment to Crude-for-Naira Initiative Despite Temporary Halt

Next Post

LCCI Sounds Alarm on Economic Headwinds, Calls for Urgent Policy Reforms

Vivian Akinyosoye

Vivian Akinyosoye

Next Post
LCCI laments woes of Nigerians following phasing out of old Naira notes

LCCI Sounds Alarm on Economic Headwinds, Calls for Urgent Policy Reforms

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
FMDQ Exchange Admits Flour Mills of Nigeria’s ₦30.00bn Commercial Paper Notes

FMDQ Admits TSL SPV PLC ₦12.00 billion Series 1 Guaranteed Fixed Rate Infrastructure Bond to its Platform

March 11, 2021
NCAC inaugurates Creative Industry Sub-Committees

NCAC inaugurates Creative Industry Sub-Committees

September 20, 2020
#EndSARS: Protesters receive heavy gun fire at Lekki toll gate

#EndSARS: Protesters receive heavy gun fire at Lekki toll gate

October 21, 2020
SMEs in Nigeria must be ready to grow with or without Government …Evans Edozie, C.E.O., Cospharma Nig. Ltd.

SMEs in Nigeria must be ready to grow with or without Government …Evans Edozie, C.E.O., Cospharma Nig. Ltd.

September 21, 2020
‘The existence of a production hub in Nigeria will go a long way for the Fashion Industry’. FUNMI RUFAI LADIPO, President Fashion Designers Association of Nigeria.(FADAN)

‘The existence of a production hub in Nigeria will go a long way for the Fashion Industry’. FUNMI RUFAI LADIPO, President Fashion Designers Association of Nigeria.(FADAN)

25
Goldlink’s restructures board

Goldlink’s restructures board

10
Airtel Africa Plc gets admitted to the NSE Main Board

Airtel Africa Plc gets admitted to the NSE Main Board

6
Stallion Tank Farm resumes operations

Stallion Tank Farm resumes operations

3
United Capital Asset Management Launches Children Investment Fund for the Next Generation

United Capital Asset Management Launches Children Investment Fund for the Next Generation

May 27, 2025
Nigeria’s External Debt Servicing Hits $2.01bn in First Four Months of 2025

Nigeria’s External Debt Servicing Hits $2.01bn in First Four Months of 2025

May 22, 2025
Oyetola Advocates for Nigeria’s Inclusion in IMO Council During Diplomatic Meeting with French Ambassador

Oyetola Advocates for Nigeria’s Inclusion in IMO Council During Diplomatic Meeting with French Ambassador

May 22, 2025
Fidelity Bank CEO Increases Stake Amid Legal Scrutiny, Demonstrates Confidence in Bank’s Stability

Fidelity Bank CEO Increases Stake Amid Legal Scrutiny, Demonstrates Confidence in Bank’s Stability

May 22, 2025
Business 360 News

Business 360 News is a Business and Financial News Platform with an SMEs drive. Published by 360 Network Limited, and created with the aim of disseminating unbiased business stories to readers within and outside Nigeria, providing in-depth analysis of our stories from a critical perspective against the backdrop of realities, actualities, objectivity and balance.

Follow Us

Browse by Category

  • Africa
  • Agribusiness
  • Agriculture
  • AI
  • Art
  • Arts
  • Aviation
  • Banking
  • Blockchain
  • Business 360 Weekly
  • Business news
  • Business Travels
  • Capital Market
  • CHINA
  • Corporate
  • Cryptocurrency
  • Destination Business
  • East Africa
  • Economy
  • Education
  • Electric Vehicles
  • Electricty
  • Energy
  • Entertainment
  • Entertainment
  • Entrepreneurship
  • EV
  • Fashion
  • Fashion
  • Feature
  • Finance
  • Gas
  • Global Economy
  • Health
  • Hospitality
  • ICT
  • Insurance
  • IoT
  • Lifestyle
  • Luxury
  • Maritime
  • Meetings
  • Mortgage
  • News
  • NGOs
  • Oil
  • Petrol
  • Political Economy
  • politics
  • Real Estate
  • Real Estate
  • SMEs
  • Society
  • Solar Energy
  • South Africa
  • Sports
  • Start-Ups
  • Stocks
  • Success Stories
  • Tax
  • Tech
  • Tourism
  • Transportation
  • UK
  • Uncategorized
  • US
  • World

Recent News

United Capital Asset Management Launches Children Investment Fund for the Next Generation

United Capital Asset Management Launches Children Investment Fund for the Next Generation

May 27, 2025
Nigeria’s External Debt Servicing Hits $2.01bn in First Four Months of 2025

Nigeria’s External Debt Servicing Hits $2.01bn in First Four Months of 2025

May 22, 2025
  • Africa
  • World
  • Our Shows

© Business 360 News - Business, Finance And SMEs News | Design by Manifest!

No Result
View All Result
  • Home
  • Africa
    • East Africa
    • West Africa
    • South Africa
  • News
    • Feature
  • Economy
    • Maritime
    • Agriculture
      • Agribusiness
    • Energy
      • Electricty
      • Oil
      • Petrol
      • Gas
  • Finance
    • Insurance
    • Tax
    • Real Estate
  • Capital Market
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
    • EV
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Global Economy
    • UK
    • US
    • Russia
    • CHINA
    • Japan
  • Business 360 Weekly

© Business 360 News - Business, Finance And SMEs News | Design by Manifest!