Lagos - There are indications that the Central Bank of Nigeria (CBN) may be shifting the deadline to June 2014 for mortgage banks operating in the country to shore up their shareholders’ funds.
The shift became inevitable following the inability of 72 out of 100 mortgage banks to beat the earlier statutory date of December 31, 2013, reports Business World.
The change in date is meant to allow all affected mortgage banks sufficient time to exercise any of the options for capital raising.
The apex bank had initially granted the mortgage firms a 8-month deadline from April 2013.
Read more at Business World
For the latest on national news, politics, sport,
entertainment and more follow us on Twitter and
like our Facebook page.