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Lotus Bank Achieves CBN’s Minimum Capital Requirement Ahead of New Mandate
Lotus Bank Achieves CBN’s Requirements: Lotus Bank Limited, a Nigerian non-interest bank, has said that it has met the Central Bank of Nigeria’s minimum capital requirement even before the apex bank raised the new threshold.
Lotus Bank Achieves CBN’s Requirements
Isiaka Ajani-Lawal, the bank’s executive director, who represented Kafilat Araoye, the managing director, announced that the bank already had the amount in its vaults even before CBN announced the new threshold.
He said, “Even before the CBN announced the new minimum capital base, we already have it as a national bank”.
The new capital base for national non interest banks is N20 billion, while regional is N10 billion.
Also Read: Complete List of Lotus Bank USSD Code for Transfer, OTP, Airtime
Lotus Bank Commitment To Deepening Financial Inclusion
Ajani-Lawal noted that Lotus Bank is unique as a non-interest Nigerian Bank deeply rooted in ethical banking, committed to ethical investing and ethical prosperity.
He stated: “We are committed to deepening financial inclusion and broadening the array of non-interest products available to the banked, unbanked, and under-banked population”.
Commenting as well, Lukman Rajih, Shariah Auditor at Lotus Bank, said: “Lotus Bank Achieves CBN’s Requirements and is here for Nigeria despite the religious differences. We are here to create value and growth for all through digital innovation and best-in-class customer experience”.
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