Rand Merchant Bank Nigeria Limited (RMB Nigeria) has announced that it has successfully met the new minimum capital requirement set by the Central Bank of Nigeria (CBN).
The bank disclosed this in a statement made available on Monday, noting that the minimum capital requirement (MCR) was achieved on 30 December 2025.
In March 2024, the CBN raised the operating minimum capital requirements for banks in the country as part of a sector-wide recapitalisation exercise. Under the new framework, banks with international licences are required to raise ₦500 billion, while national commercial banks must meet a ₦200 billion threshold. The MCR for regional banks and merchant banks was set at ₦50 billion each.
For non-interest banks, national players are expected to meet a ₦20 billion capital requirement, while regional non-interest banks are required to raise ₦10 billion.
RMB Nigeria said the achievement underscores its financial strength, resilience, and unwavering commitment to regulatory compliance. The bank added that the milestone reflects shareholders’ confidence in the Nigerian economy and its role in shaping the country’s evolving financial landscape.
According to the bank, meeting the CBN capitalisation threshold positions RMB Nigeria to deliver more innovative financial solutions, enhance customer confidence, and contribute meaningfully to the stability and growth of Nigeria’s banking sector.
Commenting on the development, the Chief Executive Officer of RMB Nigeria, Mr Bayo Ajayi, said the bank was proud to have met the CBN’s requirement well ahead of schedule.
“This achievement reflects our shareholders’ confidence in the Nigerian economy and our dedication to delivering best-in-class corporate and investment banking services across Nigeria and Africa,” Ajayi said.
“Our focus remains on building a stronger, more resilient institution that can thrive in Nigeria’s dynamic financial environment.”
With this development, RMB Nigeria has joined the growing list of lenders that have met the new capital requirement ahead of the March 2026 deadline set by the apex bank.
Speaking at the last Bankers’ Dinner in Lagos, CBN Governor, Mr Olayemi Cardoso, confirmed that the recapitalisation process remains firmly on course.
He noted that several banks have already met the new thresholds, while others are making steady progress and are well-positioned to comply before the deadline.
“To date, 27 banks have raised capital through public offers and rights issues, and sixteen have already met or exceeded the new requirements,” Cardoso said.
“This is a clear testament to the depth, resilience, and capacity of Nigeria’s banking sector.”
