The Central Bank of Nigeria (CBN) has confirmed that 14 commercial banks have successfully met the new regulatory capital requirements introduced under its ongoing recapitalisation exercise.
CBN Governor, Olayemi Cardoso, disclosed this during a press conference in Abuja on Tuesday, while announcing the decisions of the Monetary Policy Committee (MPC).
“On the financial sector, the MPC noted the continued resilience of the banking system with most of the financial soundness indicators remaining within projected benchmarks,” Cardoso stated.
He explained that members of the MPC commended the progress made so far, noting that 14 banks have already complied with the new capital rules. “They therefore urge the bank to continue the implementation of policies and initiatives that will ensure the successful completion of the ongoing recapitalisation exercise,” he added.
Cardoso further highlighted that the MPC acknowledged the successful termination of forbearance measures and waivers on civil obligors. He said these steps have strengthened transparency, improved risk management practices, and enhanced long-term financial stability.
The CBN governor reassured the public that the withdrawal of forbearance measures is only a temporary adjustment and poses no threat to the resilience or soundness of the Nigerian banking system.
