CBN To Roll Out New Risk Strategy

TheCentral Bank of Nigeria(CBN) is set to unveil a new risk management strategy,Moment Nigerian Newspapersreports. For attaining risk and financial stability, CBN and other banks will contribute $11.13 billion within a period of 10 years beginning from this year.

The apex regulator will set aside $327.22 million every year into a “Sinking Fund,” while the banks will allocate 0.3% of their profit, said CBN deputy governor, financial system stabilityKingsley Moghalu. CBN will work with theSecurities and Exchange Commissionfor financial stability.

Click here for the story fromMoment Nigerian Newspapers.