Lagos - The Central Bank of Nigeria (CBN) has announced a new minimum capital base of N100 million for finance companies and leasing companies operating in the country.
The new capital base is N80 million more that the N20 million previously stipulated by the apex bank, reports Leadership.
The deadline for compliance with the new capital base is September 30th, 2014.
The decision to increase the capital base for finance and leasing companies according to the CBN was taken in order to have strong and viable finance companies in the country.
Read more at Leadership.
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