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Providus Bank Limited has set the record straight regarding its recapitalisation status, affirming that it has fully met the requirements of the Central Bank of Nigeria (CBN).
In a statement on Friday, the bank said it had noted recent media reports regarding the recapitalisation status of certain banks and considered it important to provide factual clarification as it relates to its status
“Under the Central Bank of Nigeria (CBN) recapitalisation framework, regional commercial banks are required to maintain a minimum capital base of ₦50 billion.
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Providus Bank confirms that it had met its capital requirement since January 2025 and currently has a capital base of N65 billiom which is in excess of its capital requirement.
“Accordingly, any suggestion that Providus Bank has not met the applicable recapitalisation threshold is not consistent with its current regulatory standing,” the bank noted.
