CBN: Bank Capital Must Match Stronger Risk Management

The Central Bank of Nigeria (CBN) has warned banks that stronger capital buffers must be matched by tighter risk management, sound corporate governance and cybersecurity as financial institutions face rising geopolitical, technological and climate-related risks.
Deputy Governor, Corporate Services at the CBN, Dr Muhammad Sani Abdullahi, gave the warning in his keynote address at the 38th Seminar for Finance Correspondents and Business Editors.
With the recapitalization process now over, Abdullahi said capital was only the starting point for building a resilient banking system, stressing that banks must strengthen controls, identify risks early and lend based on viable projects.
“Cap...