Banks raise N4.05tr in recapitalisation drive 20 meet requirements, 13 others on course MPC cuts interest rate to 23.5 per cent Central Bank of Nigeria (CBN) Governor Olayemi Cardoso yesterday affirmed that 20 banks have fully met the new minimum capital requirements. According to him, 13 others are on course to meeting the threshold ahead of the March 31 deadline. He also said that banks have raised N4.05 trillion through domestic and foreign instruments. Cardoso spoke while giving the latest progress report on recapitalisation. Cardoso spoke in Abuja after the 304th meeting of the Monetary Policy Committee (MPC). He said recapitalisation is progressing well and expressed confidence that the process would be completed within the stipulated time. He said: “To date, 20 banks have fu...