CBN Approves Sterling HoldCos N75bn Additional Capital for New Threshold

The Central Bank of Nigeria has approved Sterling Financial HoldCo's additional N75bn capital, which meets the company's new capital threshold.

The Central Bank of Nigeria has approved Sterling Financial HoldCo's request for an additional N75 billion in capital, bringing the total raised to meet its new capital threshold. This approval follows the company's efforts to bolster its financial resources and comply with regulatory requirements. The latest infusion will enhance the firm's ability to operate effectively within the evolving banking landscape in Nigeria. With this development, Sterling Financial HoldCo is now fully compliant with the required capital standards.