Recapitalisation: 30 Nigerian banks meet CBN minimum capital requirement

Recapitalisation: 30 Nigerian banks meet CBN minimum capital requirement

The Central Bank of Nigeria (CBN) has announced that 30 Nigerian banks have now met the new minimum capital requirements introduced as part of the banking sector recapitalisation programme launched in March 2024.

In a statement issued on Friday, Hakama Sidi Ali, Acting Director of Corporate Communications at the apex bank, said a total of 33 banks have successfully raised additional capital through rights issues, initial public offerings (IPOs), and private placements since the policy was introduced.

According to the CBN, the recapitalisation programme is aimed at strengthening the resilience, stability, and long-term capacity of Nigeria’s banking system to support economic growth and development.

“The Central Bank of Nigeria introduced a capitalisation programme for the banking sector in 2024 to strengthen the resilience, stability, and long-term capacity of the financial system to support Nigeria’s economic development,” the bank said.

“Since the introduction of the policy, banks across the industry have taken steps to strengthen their capital base in line with the revised regulatory requirements.

“As of March 6, 2026, the recapitalisation exercise is progressing steadily. Thirty banks have met the new minimum capital requirements applicable to their respective licence authorisations.

“In total, thirty-three banks have raised additional capital through rights issues, IPOs and private placements as part of the programme.”

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The apex bank said the capital positions of the remaining banks are currently undergoing routine regulatory verification before final confirmation of compliance within the stipulated timeline.

“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 added.

The regulator also assured that it would continue to maintain close supervisory engagement with financial institutions to ensure full compliance with prudential and capital requirements.

Earlier, on February 24, Olayemi Cardoso, Governor of the Central Bank of Nigeria, disclosed that 20 banks had already met the minimum capital requirement, noting that the recapitalisation process was progressing steadily across the sector.

Cardoso also revealed that as of February 19, 2026, the total verified and approved capital raised by Nigerian banks had reached about ₦4 trillion, reflecting strong investor participation and confidence in the banking sector.

The recapitalisation programme follows the CBN’s March 28, 2024 directive reviewing the minimum capital base for commercial banks, with institutions given until March 31, 2026 to fully comply.

Under the revised framework, banks with international authorisation are required to have a minimum capital base of ₦500 billion, while national banks must raise ₦200 billion and regional banks ₦50 billion.

Financial analysts say the policy is designed to create stronger and better-capitalised banks capable of financing large-scale investments, supporting businesses, and improving financial stability in Africa’s largest economy.

The recapitalisation exercise has also triggered increased activity in Nigeria’s capital market, with several lenders launching public offers, rights issues, and strategic fundraising programmes to meet the regulatory thresholds.

Industry experts believe the ongoing exercise could lead to further consolidation in the banking sector, including potential mergers and acquisitions among smaller institutions struggling to meet the capital requirements before the deadline.

Recapitalisation: 30 Nigerian banks meet CBN minimum capital requirement