By Naomi Uzor

LAGOS—To protect the economy and the interest of shareholders, the Lagos Chamber of Commerce and Industry, LCCI, has urged caution on the proposed recapitalisation of the rescued banks and the Central Bank of Nigeria’s, CBN, decision to invite foreign investors.

The LCCI wants the process to be done in line with the relevant laws and statutory framework prescribed under the Companies and Allied Matters Act, CAMA and the Banks Other Financial Institutions, BOFI Act.

LCCI President, Otunba Femi Deru, said this at second quarterly press conference on the economy.