The Lagos Chamber of Commerce and Industry (LCCI) has said that the proposed recapitalisation of Nigerian banks will further strengthen the capacity of banks to support the economy better.
This was said sequel to the policy reeled out by the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele
The Director-General, Muda Yusuf, said the idea of recapitalization of banks is not a bad idea. “It would strengthen the capacity of banks to support the economy better, especially with regards to large projects. It will also be beneficial in bolstering the capacity of the banks to withstand macroeconomic shocks”, he said.
He, however, said the recapitalization programme should be undertaken in the manner that would not inflict disruptions to the banking system.