HELLO

First Bank of Nigeria Limited, Guaranty Trust Bank Plc (GTBank), Zenith Bank Plc, United Bank for Africa Plc (UBA), Access Bank Plc, Skye Bank Plc, Ecobank Nigeria and Diamond Bank Plc have been designated by the Central Bank of Nigeria (CBN), as “too big to fail”, owing to the fact that their failure could pose a systemic risk to the banking industry and the larger economy. The eight banks alone account for 75 per cent of the banking sector in terms of earnings, profitability assets, customer deposits and branch networks. The CBN, it was learnt, has therefore adopted a more robust regulatory regime to monitor and scrutinise the eight banks, in order to ensure that they are healthy. The central bank has also asked the eight banks to increase their capital base in order to give them a buffer against internal and exogenous shocks . Confirming this development, Deputy Governor (Operations), CBN, Mr. Tunde Lemo, described the financial institutions as systemically import...