The gale of recapitalisation is currently sweeping through the financial services sector with new capital requirements already set by regulators in the banking and insurance industry. In the banking sector, microfinance banks have been set new minimum capital base they need to meet between 2020 and 2021, and these range from N50 million to N5 billion, depending on whether they are a Tier 2 unit, or a national, microfinance bank. The insurance sector regulator has also upped the capitalisation ante for insurers and there is now talk that this has opened a window for foreign investors to swoop and become dominant players in the Nigerian insurance space.
Penultimate week in Lagos, on the side lines of the business a.m./GTI Finance & Investment Dialogue (FiD) where he was guest speaker, EMMANUEL MOORE ABOLO (PhD), an economist and a leading risk manager in Nigeria, GMD/CEO, Riskmap Consulting Ltd; DG, The Economic Thinktank Centre Ltd; and President, Professional Speakers Society of Nigeria, sat down with PHILLIP ISAKPA to share his thoughts on what he calls “a new set of waves” of recapitalisation in the banking industry. Here are excerpts from the interview.
The gale of recapitalisation is currently sweeping through the financial services sector with new capital requirements already set by regulators in the banking and insurance industry. In the banking sector, microfinance banks have been set new minimum capital base they need to meet between 2020 and 2021, and these range from N50 million to N5 billion, depending on whether they are a Tier 2 unit, or a national, microfinance bank. The insurance sector regulator has also upped the capitalisation ante for insurers and there is now talk that this has opened a window for foreign investors to swoop and become dominant players in the Nigerian insurance space.
Penultimate week in Lagos, on the side lines of the business a.m./GTI Finance & Investment Dialogue (FiD) where he was guest speaker, EMMANUEL MOORE ABOLO (PhD), an economist and a leading risk manager in Nigeria, GMD/CEO, Riskmap Consulting Ltd; DG, The Economic Thinktank Centre Ltd; and President, Professional Speakers Society of Nigeria, sat down with PHILLIP ISAKPA to share his thoughts on what he calls “a new set of waves” of recapitalisation in the banking industry. Here are excerpts from the interview.
