Thirty (30) banks have met the new minimum capital requirements applicable to their respective licence authorisations and thirty-three (33) banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the recapitalisation programme.
This update is contained in a statement by the Acting Director, Corporate Communications of the CBN Hakama Sidi Ali, issued this Friday in Abuja.
The CBN had in 2024 introduced a recapitalisation programme for the banking sector to strengthen the resilience, stability, and long-term capacity of the financial system to support Nigeria’s economic development. 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.
The bank said 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 (IPOs), and private placements as part of the programme.”
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 CBN reiterated that the Nigerian banking system remains stable and sound.
The Director affirmed 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. She concluded with an assurance that the Central Bank of Nigeria will continue to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements.
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