Nigeria, March 25 -- The Central Bank of Nigeria has stated that Nigerian banks raised N4.61 trillion in fresh capital, with nearly 27 per cent from foreign investors, ahead of the recapitalisation deadline on 31 March.

The development was disclosed on Tuesday by the CBN governor, Olayemi Cardoso, at the International Monetary Fund/Africa Regional Technical Assistant Centres (IMF/AFRITAC) West 2 high-level forum on financial sector regulation and supervision in Abuja.

The apex bank earlier disclosed that Nigerian banks raised N4.05 trillion in recapitalisation funds by February. By early March, it reported that 30 of the 33 banks had met the minimum capital requirements through rights issues, Initial Public Offerings (IPOs), and private...