The Centre for the Promotion of Private Enterprise has called on the newly appointed Governor of the Central Bank of Nigeria, Olayemi Cardoso
“Today, the same N25 billion is equivalent to just $32.5 million. This is a clear indication of the phenomenal erosion of the capital base of the banks.
On the naira redesign policy, he said the policy must be suspended indefinitely and as of now shouldn’t be a priority. On the tenure and cost of funds in the banking system, CPPE said that “there is a need to address the macroeconomic fundamentals to correct this maturity structure of funds in the banking system.
On concentration risk in the banking sector, it was advised that “steps should be taken to reduce concentration risks in the banking system as a strategy to manage systemic threats to the bank system.”
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