Nigeria: Recapitalisation: CAC draws attention of banks to guidelines on merger, share increment

THE Corporate Affairs Commission (CAC) has issued new guidelines for the recapitalization, merger, and share increment of banks and financial institutions in Nigeria, emphasizing timely compliance and documentation.

For new incorporations, requirements include payment of fees, while increases in share capital need various documents including statutory declarations and affidavits.

The Central Bank of Nigeria (CBN) had urged banks to expedite their capital increases to enhance financial…