The Central Bank of Nigeria (CBN) will continue to strengthen its supervision of banks despite the successful completion of the banking sector recapitalisation exercise, Olayemi Cardoso, governor of the CBN, has said.
Cardoso said the CBN’s oversight of banks would not end with the recapitalisation exercise, which raised between N4 trillion and N5 trillion in fresh capital for the banking industry.
“Our oversight on banks does not stop at the fact that you have raised capital. No, it’s going to be continuous because we need a strong, resilient banking sector to be able to take us to where we want to go,” Cardoso said during a fireside chat with Frank Aigbogun, chief executive officer of BusinessDay, at the BusinessDay 14th Annual CEO Forum in Lagos.
The governor said the recapitalisation was designed to build greater resilience in the banking system and strengthen banks’ capacity to withstand economic shocks.
He said
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