It is anticipated the measures to be taken will address money market management in the country and will hinge on a fresh policy outlook.ÂÂ
The meeting would be the second of its kind, in the annals of the country's financial sector's management. It will be recalled that mid way in the year 2004, Chukwuma Soludo, then governor of the CBN initiated the consolidation drive for banks,which set the minimum capital base for the banks at N25 billion. The past few days has witnessed disclosures of bad debts suffered by banks. There have been reports of a debt stock of N1.25 trillion being owed the banks by some high profile individuals and the firms, with a significant percentage of the debts in foreign currency.