Otedola commends Tinubu’s ‘deep economic understanding’ as First Bank meets N500bn requirement
[NigerianEye - Nigeria] - 2/01/2026
Femi Otedola, chairman of First HoldCo, says First Bank has met the N500 billion capital requirement of the Central Bank of Nigeria (CBN), calling for stricter oversight of the country’s banking sector. The development comes ahead of the March 2026 deadline set by the CBN, following a regulatory directive mandating banks to raise their capital base in March 2024. The regulator had pegged the minimum capital requirements for commercial banks with international licences at N500 billion. Those of national and regional financial institutions were fixed at N200 billion and N50 billion, (…)
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