The Central Bank of Nigeria (CBN) on Wednesday announced that 33 banks have met the new minimum capital requirements under its recapitalisation programme, raising a combined N4.65 trillion to strengthen the nation’s financial system.
The recapitalisation exercise, which began in March 2024, involved participation from both domestic and foreign investors, with local investors contributing 72.55% of the funds and international investors accounting for 27.45%, reflecting strong confidence in Nigeria’s banking sector.
The announcement was made in a statement jointly signed by Olubukola Akinwunmi, Director of Banking Supervision, and Hakama Sidi-Ali, Acting Director of Corporate Communications.
CBN Governor Olayemi Cardoso commented, “The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks.”
The regulator noted that while 33 banks have fully complied, a few others are still undergoing regulatory and legal processes. All banks remain fully operational, ensuring continued access to banking services nationwide.
Key prudential indicators, particularly capital adequacy ratios, have improved and remain above global Basel benchmarks. Minimum ratios were set at 10% for regional and national banks and 15% for banks with international licences.
The CBN also highlighted that the recapitalisation coincided with a gradual exit from regulatory forbearance, improving asset quality, balance sheet transparency, and overall sector stability. The apex bank has strengthened its risk-based supervision framework, including periodic stress tests and mandated capital buffers.
Foreign investor confidence is reflected in inflows, with banking sector capital imports rising 93.25% year-on-year to $13.53 billion in 2025, up from $7 billion in 2024. The sector accounted for 58.26% of total capital inflows, up from 56.81% the previous year, highlighting the appeal of Nigerian banks amid regulatory reforms.
However, the Centre for the Promotion of Private Enterprise (CPPE), led by economist Dr. Muda Yusuf, cautioned that despite the strengthened banking system, credit flows to small businesses remain weak, indicating that the benefits of recapitalisation have yet to fully reach the real economy.
The CBN emphasised that the successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks.
