By our reporter

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, says “strategic interventions” of the apex bank have produced encouraging results.

The CBN governor made this known to journalist while making a presentation at a stakeholders’ meeting held by the House Committee on Banking Regulations, on Tuesday.

He also said “the CBN has taken decisive actions to ensure the safety, soundness, and resilience of the banking industry which include re-capitalization by raising the minimum capital base to support the $1 trillion economy envisioned by the Federal Government by 2030. Adding that “Banks are required to meet these new thresholds by March 31, 2026, with several options available for reaching these targets. These options include issuing of new equities, engaging in mergers and acquisitions, or adjusting their operational licenses”

He added “The Bank also revoked the licence of Heritage Bank, facilitated the successful merger of Unity Bank and Providus Bank, revised Cybersecurity Rules for Banks and PSPs, suspension of processing fees on cash deposits, and enhanced AML/CFT supervision”