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N25bn Capital Base: Northern Senators Take Position Today From Kola Ologbondiyan in Abuja Northern Senators Forum (NSF) would today meet to take a central position on the Central Bank of Nigeria (CBN) proposed increase of the capital base for banks from N2 billion to N25 billion. The Senate Committee on Banking, Insurance and other Financial Institutions Vice Chairman, Senator Farouk Bunza-Bello, THISDAY gathered, is expected to present a motion before the senate that would seek to halt the proposed increase and in its place recommend a phased increase of the capital base rather than a "frog-leap" increase. But NSF, which has Senator Idris Kuta as its chairman, would meet today to deliberate on the proposed increase vis-a-vis its global implications on the nation's economy as well as on northern interests in the banking sector. The meeting, THISDAY further gathered, was also called to look into the possibility of banks from the three geo-political zones in the North scaling the CBN's ceiling of N25 billion and to harmonise the individual positions of the senators that is currently divided. When contacted, Senator Bunza-Bello, said "the issue of capital base has no ethnic colouration. We are looking at the economic and social implications of the increase." Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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