Thirty (30) banks have met the new minimum capital requirements applicable to their respective licence authorisations. This is just as a total of thirty-three (33) banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements which are part of the programme.
This was disclosed by the Acting Director, Corporate Communications, Central Bank of Nigeria, Mrs.Hakama Sidi-Ali in a statement over the weekend.
Asserting that the exercise which began in 2024 has yielded steady progress, she said, “As of March 6, 2026, the recapitalisation exercise is progressing steadily. Thirty (30) banks have met the new minimum capital requirements applicable to their respective licence authorisations. In total, thirty-three (33) banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the programme.”
It would be recalled that in 2024, the CBN introduced a recapitalisation programme for the banking sector, to strengthen the resilience, stability, and long-term capacity of the financial system to support Nigeria’s economic development. Since the introduction of the policy, banks across the industry have taken steps to strengthen their capital base in line with the revised regulatory requirements.
The spokesperson at the Apex bank however said the capital positions of the remaining banks are currently undergoing the Central Bank’s routine verification process ahead of final confirmation of compliance within the recapitalisation timeline.
The CBN has therefore reiterated that the Nigerian banking system remains stable and sound. The recapitalisation programme remains firmly on track and will further strengthen the capacity of the banking sector to support households, businesses, and sustainable economic growth.
“The Central Bank of Nigeria will continue to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements,” she said.
