Citi meets Nigeria’s banking capital norms with $136m infusion-report

Citi has successfully met the Central Bank of Nigeria's new capital requirements by injecting fresh capital into its Nigerian unit, reported Bloomberg. The move ensures compliance with the N 200bn ($136m) threshold mandated for lenders with a national banking licence. In an e-mailed statement to Bloomberg, the bank said: “With a strengthened balance sheet, Citi is ready to expand support for clients across priority sectors including infrastructure, energy and trade. “It is a statement of confidence in N ...