Nigeria Deposit Insurance Corporation (NDIC), has thrown its weight behind the proposed recapitalisation of banks, saying the country needs bigger banks to achieve the vision of a $1 trillion economy.

Managing Director of the NDIC, BELLO HASSAN, stated this in Owerri, Imo State while addressing newsmen on the sidelines of the annual workshop organised by the corporation for Business Editors and Finance Correspondents.

HASSAN said while the banking industry is sound in terms of key indicators namely Capital Adequacy, Liquidity, Earnings and Quality of Assets, achieving a $1 trillion economy requires bigger banks.