Thirty banks in Nigeria have met the new minimum capital requirements introduced under the Central Bank of Nigeria’s (CBN) banking sector recapitalisation programme, the apex bank confirmed on Friday.
Launched in 2024, the recapitalisation exercise aims to strengthen the resilience, stability, and long-term capacity of the country’s banking system to support households, businesses, and economic growth.
In a statement by CBN’s Acting Director of Corporate Communications, Hakama Sidi-Ali, the apex bank noted that banks had successfully bolstered their capital bases through various fundraising channels, including rights issues, initial public offerings, and private placements.
“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, and private placements as part of the programme,” the statement read.
The capital positions of the remaining banks are undergoing routine verification by the CBN to ensure full compliance with prudential standards within the stipulated recapitalisation timeline.
“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 statement added.
CBN Governor Olayemi Cardoso previously disclosed that banks had raised a total of ₦4.05 trillion in verified and approved capital ahead of the March 31, 2026, deadline. This figure nearly doubles the ₦2.4 trillion mobilised as of April 2025.
Of the total, ₦2.90 trillion (71.6%) was raised domestically, while ₦1.15 trillion (28.33%) came from foreign investors, highlighting broad confidence and engagement in Nigeria’s financial sector.
Since the programme’s launch, several banks have undertaken corporate restructuring and strategic capital raising exercises to meet regulatory benchmarks. The CBN has emphasised that the banking system remains stable and sound despite ongoing capital adjustments.
“The CBN reiterates 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 statement said.
The apex bank also assured stakeholders that it will maintain close supervisory engagement with all regulated institutions to ensure compliance with prudential and capital requirements.
