The Central Bank of Nigeria has directed banks to submit a capital restoration plan as part of regulatory efforts to support the exit from the forbearance regime.
In a circular signed by the CBN Director of Banking Supervision, Olubukola Akinwunmi, published on its website on Monday, the apex bank said the Capital Restoration Plan would complement its other measures which include termination of forbearance exposure and Single Obligor Limits waivers, suspension of payment of dividends, bonuses and investment in foreign subsidiaries for affected banks.
CBN said, “To complement the above measures and ensure forward-looking capital planning, all affected banks are required to prepare and submit a comprehensive Capital Restoration Plan to the CBN on or before the 10th working day following the end of the quarter with effect from June 30, 2025.
