Fitch Ratings has said tier-3 banks in Nigeria are more likely to resort to mergers and acquisitions or downgrade their licences as they struggle to meet the Central Bank of Nigeria’s new paid-in capital requirements.  In a report released on Wednesday, the global credit rating agency stated that while first- and tier-2 banks had made notable progress in raising fresh capital, tier-3 lenders had been slow in their recapitalisation efforts, making consolidation or licence downgrades a more likely path to compliance. ..................READ MORE