Providus Bank Limited yesterday noted that it has fully met the recapitalisation requirement of the Central Bank of Nigeria while stating what it calls “factual clarification”.
The bank, in a statement, said it has noticed recent media reports regarding the recapitalisation status of some banks and considers it important to provide factual clarification as it relates to itself. Under the Central Bank of Nigeria (CBN) recapitalisation framework, regional commercial banks are required to maintain a minimum capital base of N50 billion.
“Providus Bank confirms that it had met its capital requirement since January 2025 and currently has a capital base of N65 billion, 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”.
