CBN: 30 Banks Meet New Capital Requirements

CBN: 30 Banks meet new capital requirements. The Central Bank of Nigeria says the banking sector recapitalisation programme introduced in 2024 is progressing steadily, with financial institutions strengthening their capital base to meet new regulatory thresholds.

A statement by the Acting Director of Corporate Communications at the bank, Hakama Sidi Ali, says thirty banks have already met the new minimum capital requirements tied to their respective licence categories.

The statement adds that thirty-three banks had raised additional capital through rights issues, initial public offerings and private placements as part of the recapitalisation programme.

CBN

The CBN notes that the capital positions of the remaining banks are currently undergoing routine verification ahead of final confirmation of compliance within the stipulated timeline.

The apex bank reiterates that Nigeria’s banking system remains stable and sound, stressing that the recapitalisation initiative will further strengthen banks’ capacity to support households, businesses and sustainable economic growth.

Stakeholders Join Forces With EFCC To Tackle Corrupt Practices In Anambra

Stakeholders join forces with EFCC to tackle corrupt practices in Anambra. In a renewed effort to strengthen inter-agency and institutional collaboration against economic and financial crimes and other acts of corruption, the Anambra Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, has embarked on a series of strategic courtesy visits and awareness campaign to critical law enforcement agencies, judicial and traditional institutions in the state.

To this end, the Anambra Zonal Director of the EFCC, Assistant Commander of the EFCC, ACE I Ofen-Imu Atiba Sunday, on March 5, 2026, led a delegation to the State Director, Department of State Services, DSS, Anambra State, C. Anukposi; State Commandant, Nigeria Security and Civil Defence Corps, NSCDC, Anambra State, Akachia Godwin; State Comptroller, Nigeria Immigration Service, NIS, Anambra State, Umerah Timothy Nwanegbo; State Sector Commander, Federal Road Safety Corps, FRSC, Anambra State, Bridget Asekhauno, State Commandant, National Drug Law Enforcement Agency, NDLEA, Anambra State, Onubogu Charles Orakwue and His Majesty, Igwe Chidubem Iweka, Eze Iweka III (Eze Ogalagidi), the Eze Obosi and Chairman of the Anambra State Traditional Council and cabinet members.

Speaking during the visits, the Acting Zonal Director emphasized that the fight against corruption required sustained cooperation and synergy among relevant institutions and community leaders. This, he said, will enhance intelligence gathering, strengthen prevention strategies and effective enforcement actions against economic and financial crimes. “Collaborative efforts among stakeholders which include community leaders are essential to safeguarding Nigeria’s economic stability and future”, he said.

Providing insight into crime patterns within the Directorate’s jurisdiction, which covers Anambra and Imo States, Sunday disclosed that preliminary crime analysis indicates that public sector corruption, land and property fraud, tax fraud, advance fee fraud, cybercrime, bank fraud and open market abuses remain the most prevalent crimes in the region,

Responding, Anukposi expressed strong support for the initiative and emphasized the importance of sustained synergy, intelligence sharing and coordinated operations among law enforcement and security agencies. He noted that corruption and economic crimes constitute serious threats to national security and economic stability, assuring the EFCC of his Service’s readiness to strengthen cooperation and undertake joint efforts where necessary to combat such crimes within the state.

Similarly, Godwin commended the Commission for its proactive engagement with sister agencies. He appreciated the existing collaboration between the Corps and the EFCC, particularly in the areas of illegal bunkering, vandalization of public assets and oil theft.

In his own response, Nwanegbo welcomed the engagement and reiterated the Service’s willingness to continue to collaborate with the EFCC, particularly in areas relating to border control, migration monitoring and intelligence support necessary for combating transnational financial crimes.

EFCC

Asekhauno also praised the Commission’s efforts in promoting accountability and transparency. She emphasized the need for continued partnership among public institutions to strengthen compliance with the rule of law and support national development. She equally enjoined the EFCC to take advantage of the Corps’ robust database in the fight against economic and financial crimes.

Orakwue, equally commended the initiative and assured the Commission of his Agency’s commitment to strengthening inter-agency collaboration in tackling criminal networks whose activities intersect with drug trafficking, money laundering and other economic crimes.

At the palace of His Majesty, the Eze Obosi, the royal father appreciated the EFCC’s engagement with traditional institutions and acknowledged the negative impact of corruption, economic and financial crimes on communities and development. The monarch pledged the support of the Anambra’s Traditional Council towards promoting cultural values, ethics and integrity.

He promised to mobilize other community leaders across the state to support the anti-corruption sensitization efforts at the grassroots level.

Oyo: Hoodlums Attack LG Congresses Of Wike’s PDP Faction

Oyo: Hoodlums attack LG congresses of Wike’s PDP faction. Hoodlums disrupted Saturday’s local government congress of the Mr Nyesom Wike faction of the Peoples Democratic Party (PDP), leaving a trail of destruction of property and injuries.

The News Agency of Nigeria (NAN) reports that party members were attacked at Bodija, Ibadan North Local Government Area, and allegedly, at other venues of the congress across the state.

Hoodlums Attack LG Congresses Of Wike’s PDP Faction

According to a member of the faction, Julius Adekunle, the hoodlums attacked almost all the designated venues of the congresses across the state.