Nigeria: Central Bank Declares 23 Banks Healthy

31 October 2013

Lagos — The Central Bank of Nigeria (CBN) has given a clean bill of health to 23 of the 24 money deposit banks in Nigeria, saying the banks are above 30.0 per cent industry liquidity ratio.

In the 2012 annual report released yesterday, the CBN said all the banks, except one met the stipulated minimum capital adequacy ratio (CAR) of 10.0 per cent and industry liquidity ratio at an average of 63.9 per cent against the prescribed minimum of 30.0 per cent. The affected bank was not mentioned in the report. The apex bank said the asset quality of banks, measured by the ratio of non-performing loans to industry total improved substantially as it declined to 3.47 per cent at end-December 2012 which is below the threshold of 5.0 per cent.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.