The Central Bank of Nigeria (CBN) has disclosed that about 20 deposit money banks have already met the new capital requirements under the ongoing banking recapitalisation programme, as the apex bank shifts its attention to ensuring that stronger balance sheets translate into increased credit to the real sector.
The disclosure was made on Thursday by the Deputy Governor, Economic Policy, Central Bank of Nigeria, Dr. Muhammad Abdullahi, while speaking on a panel at the launch of the 2026 Macroeconomic Outlook of the Nigerian Economic Summit Group (NESG) in Lagos.
Abdullahi noted that the recapitalisation exercise is progressing steadily and is yielding positive results across the banking sector, with many institutions strengthening their capital positions ahead of the regulatory deadline.
His remarks align with earlier disclosures by the CBN Governor, Mr. Olayemi Cardoso, who revealed at the final Monetary Policy Committee (MPC) meeting of 2025 that 16 banks had already achieved full compliance with the revised capital requirements.
According to Abdullahi, the recapitalisation programme was deliberately structured to create stronger, more resilient banks capable of supporting Nigeria’s long-term economic aspirations.
“The objective is not just to build bigger balance sheets, but to ensure that banks are well-positioned to finance growth-enhancing sectors of the economy,” he said.
He added that the CBN’s next priority is to ensure that the improved capital base of banks translates into increased lending to critical sectors such as manufacturing, agriculture, infrastructure, and small and medium-sized enterprises.
Abdullahi stressed that a sound and well-capitalised banking system is central to Nigeria’s ambition of becoming a trillion-dollar economy, noting that sustainable growth will require adequate financing of the real sector.
The banking recapitalisation programme forms part of broader reforms by the CBN aimed at strengthening financial stability, improving risk management, and positioning the financial system to support long-term economic development.
