Nigeria’s Cardoso Urges Lenders to Boost Capital Levels
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Nigeria’s central bank urged lenders to bolster their balance sheets in the face of high inflation, currency weakness and tepid economic growth.
“We must make difficult decisions regarding capital adequacy,” Governor Olayemi Cardoso said on Friday. “As the first steps, the central bank will be directing banks to increase their capital,” he told bankers during a dinner speech in the commercial hub of Lagos.