Nigeria's central bank on Tuesday approved new international banking licences for nine out of the country's existing 24 banks under a new regulatory regime after the sector was bailed out and restructured.
@import url("http://sgstc.msn.com/br/csl/css/23AA27A79E3687063673C2CD56F30E46/twtutility.css");

Central Bank of Nigeria (CBN) deputy governor Kingsley Moghalu said a total of 17 new licences have been granted -- nine banks for international banking, six for national banking and two for regional banking.
Under the new scheme, international banks need a minimum capital of 50 billion naira ($320 million, 222 million euros); national banks require 25 billion naira and regional banks 10 billion naira.
Regional banks can operate in from six up to no more than 12 of Nigeria's 36 states.
The nine banks granted international commercial licences are Access Bank, Guarantee Trust Bank, Diamond Bank, Skye Bank, Zenith Bank, Fidelity Bank, United Bank for Africa, First City Monument Bank and First Bank Plc.
Mohaglu said the central bank was looking at the compliance plans of other banks and would make an announcement in due course when "the on-going negotiation for the recapitalisation of these banks are completed."
Moghalu gave September 30 as the deadline for the rescued banks to complete their recapitalisation and negotiations on merger or acquisition.
If they did not meet the deadline, they would be liquidated by the central bank, he added.
Moghalu also said that "no bank or financial holding company in Nigeria will be allowed to engage in the real estate business or registrar business."
Nigerian authorities removed top management from a number of banks in 2009 in a bailout of the sector after they amassed huge amounts of bad loans.