Section 13: Minimum Capital Ratio.

(1) A bank shall maintain, at all times, capital funds unimpaired by losses, in such ratio to all or any asset or to all or any liability or to both such assets and liabilities of the bank and all its offices in and outside Nigeria as may be specified by the Bank.
(2) Notwithstanding subsection (1), the Bank may prescribe a higher or lower capital adequacy ratio with respect to any category of banks.
(3) The Bank may require a bank to maintain additional capital as the Bank considers appropriate in respect of specific risks.
(4) The Bank may require a bank that has-
(a) a holding company;
(b) a subsidiary; or
(c) a holding company and a subsidiary,
to calculate and maintain minimum capital adequacy ratio on a consolidated basis.
(5) Any bank which fails to observe any such specified ratios may be prohibited by the Bank from-
(a) advertising for or accepting new deposits;
(b) granting credit or finance and making investments;
(c) paying cash dividends to shareholders;
(d) paying bonus to its directors, other than the approved emoluments and benefits; or
(e) engaging in other activities as the Bank may specify.
(6) Notwithstanding the provisions of subsection (5), the Bank shall have power to impose such additional holding actions, prohibitions and conditions as it may deem fit for failure to comply with the specified capital adequacy ratio.
(7) The bank may be required to draw up within a specified time, a capital reconstitution plan acceptable to the Bank.