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WHEN CAPITAL ISN'T CASH: A LEGAL AND FINANCIAL ANALYSIS OF BANK CAPITALISATION IN NIGERIA | Lydia Ehisuoria Ohonsi, Esq.
I. Introduction The Central Bank of Nigeria ('CBN') issued a landmark directive in March 2023 mandating a comprehensive recapitalisation of Nigerian commercial banks. Pursuant to the directive, commercial banks with international authorisation are required to attain a minimum paid-up capital of ₦500 billion, national banks ₦200 billion, and regional banks ₦50 billion, with a compliance deadline of 31 March 2026. The directive triggered a wave of capital-raising activity across the banking sector, including rights issues, public off…
ATTORNEY-GENERAL'S CONSENT AND THE STATUS OF THE CENTRAL BANK OF NIGERIA IN GARNISHEE PROCEEDINGS: ANTECEDENT CONTROVERSY, CURRENT REALITIES AND THE LIDAN ENGINEERING WATERSHED | Lydia Ehisuoria Ohonsi, LL.B., BL
Lydia Ehisuoria Ohonsi, LL.B., BL The enforcement of monetary judgments against the Nigerian Federal Government and its agencies has long been bedevilled by the consent requirement embedded in Section 84 of the Sheriffs and Civil Process Act, Cap. S6, Laws of the Federation of Nigeria, 2004 (SCPA). At the heart of this legal struggle is the question of whether the Central Bank of Nigeria (CBN) qualifies as a ‘public officer’ under that provision, which would necessitate obtaining prior consent from the Attorney-General of the Federation (AGF) …
AN OPEN LETTER TO THE CBN BOARD OF DIRECTORS.
Mr. Godwin Emefiele (CON) (Chairman, Board of Directors) The Governor, Central Bank of Nigeria, Plot 33, Abubakar Tafawa Balewa Way Central Business District, Cadastral Zone, Abuja, Federal Capital Territory, Nigeria. P.M.B. 0187, Garki Abuja. Nigeria. Attention!! Mrs. Aishah N, Ahmad (Board Member) Deputy Governor, Financial Systems Stability Directorate Mr. Edward L. Adamu (Board Member) Deputy Governor, Corporate Services Directorate Mr. Folashodun Adebisi Shonubi (Board Member) Deputy Governor, Operations Directorate Dr. Kingsley Obiora …
