Banks demand CBN’s clarity on retained earnings as recapitalisation countdown begins

THE NATION

Commercial banks demanding from the Central Bank of Nigeria (CBN) to present a clearer directive on the treatment of retained earnings in the recapitalisation of banks, The Nation has learnt.

The demand become more urgent as countdown to the two-year recapitalisation timeline begins. 

The recapitalisation exercise is expected to commence from April 1, 2024 (today), through March 31, 2026.

Retained earnings are the amount of profit a company has left over after paying all its direct costs, indirect costs, income taxes and its dividends to shareholders.