As part of an effort to strengthen its business strategy and position the firm for profitability, the management of Credite capital has revealed that it is working to increase its capital base well above regulatory requirements.
“Yes, we are looking at increasing our share capital base to be able to operate very well in this inflated economy.
“We foresee the possibility of CBN coming to review the share capital base of the finance companies, and that is why we are not waiting.
In 2013, CBN called a stakeholder meeting whereby they increased the share capital of the finance company from N20 million to N100 million,” he said.
Tokunboh Abudu, chairman, Credite capital said the company will continue to overhaul its operations by keeping abreast of new technology and employment of skilled professionals...
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