Nigerian Banks Accelerate Capital-Raising

• Banks extend capital-raising offers amid market concerns
• Central Bank’s recapitalisation directive pushes lenders to the market

Lagos, Nigeria – Several Nigerian banks are tapping the capital market to bolster their reserves in line with a central bank-mandated recapitalisation programme. Four lenders have already begun raising capital, with others poised to follow suit. However, the decision by some banks to extend their fundraising periods has sparked concerns over the timing and strategy of these initiatives.