Financial Regulation International
Review of the Nigerian Banking Sector Recapitalisation Programme
A recipe for economic growth
by Temiloluwa Sotonwa
Nigeria's socio-economic scene has experienced historic moments in the past year. From a routine change in government to unbelievable foreign exchange rates to disheartening inflation rates, the Nigerian populace has experienced it all. Amidst the fluctuations and changes, Nigeria's apex bank, the Central Bank of Nigeria (CBN), has been a major stakeholder in directing the nation's economy. Under a new dispensation,1 the CBN has doled out measures and tools to keep the economy afloat. One of its recent tools is the Nigerian Banking Sector Recapitalization Programme 2024 (the Programme)2 which has been envisioned since 2023.3