The Central Bank of Nigeria, the Securities and Exchange Commission and the Nigeria Deposit Insurance Corporation have joined forces to streamline the bank recapitalisation process, aiming to enhance efficiency and transparency within the financial sector.
In a statement made available to The PUNCH on Sunday, the Director General of SEC, Emomotimi Agama, highlighted that the collaboration is part of a broader effort to reduce the time to market for capital-raising activities, making the Nigerian capital market more attractive to investors and issuers alike.
Agama explained that several initiatives had been implemented, including the introduction of an electronic filing system, streamlined registration processes, and updated regulatory frameworks.
According to Agama, these measures are crucial for increasing liquidity in the market, as they allow companies to access capital more quickly and efficiently.
“The new framework outlines the guidelines and procedures banks must follow to raise capital, ensuring a smooth and transparent process,” Agama stated.
