Report identifies banks expected to raise equity after COVID-19 flattens

A recent report from the Nigerian based consulting outfit Augusto Consulting believes Nigerian Banks may have no choice but to raise significant equity in 2020. The founder of the firm, Bode Augusto made this submission in a paper delivered via Zoom and titled Impact of COVID-19 on the Nigerian Economy.According to the report, banks are expected to have a net asset to total assets ratio of at least 12.5% considering the effect of the crash in crude oil prices and the impact of COVID-19. 

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