Access Bank Plc has raised ₦351 billion through a rights issue, bolstering its capital base well above the regulatory threshold.
In a statement released on Wednesday, the bank confirmed that its share capital now stands at ₦600 billion, which is 20% higher than the minimum requirement for banks operating with an international licence.
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The development follows the Central Bank of Nigeria’s announcement on March 28 of a recapitalisation exercise aimed at financial institutions. The exercise revised minimum capital requirements across commercial, merchant, and non-interest banks, signalling a tightening of regulations in the sector.
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