• Super Admin
• 07 Mar, 2026

The recapitalization deadline remains set for March 31, and the CBN maintains that the Nigerian banking system remains stable and sound. With the March 31 deadline for the banking sector recapitalization exercise approaching, the Central Bank of Nigeria (CBN) has confirmed that 30 banks have now met the revised capital thresholds applicable to their specific license authorizations. Mrs. Hakama Sidi-Ali, the CBN Acting Director of Corporate Communications Development, disclosed on Friday that these institutions have successfully aligned with the new minimum requirements as of March 6. This follows an earlier update from CBN Governor Olayemi Cardoso, who noted on February 24 that 20 banks had reached full compliance at that time. The apex bank reported that 33 banks in total have utilized various financial instruments to bolster their capital base, including IPOs and private placements. For the remaining institutions, the CBN is currently conducting routine verification processes of their capital positions. Governor Cardoso previously highlighted that banks still in the planning stages are evaluating strategic options, including potential mergers and consolidations, to ensure they meet the regulatory cut-off. The financial mobilization under this programme has been substantial, totaling N4.05 trillion as of February 19. This includes N2.90 trillion raised domestically and approximately $706.84 million (estimated at N1.15 trillion) reflecting foreign participation. The CBN maintains that this balanced investment mix signals broad investor engagement and growing confidence in the sector. The Bottom Line is that the Nigerian banking landscape is undergoing a significant financial fortification, with 30 banks already crossing the finish line. As the March 31 deadline nears, the injection of over N4 trillion in new capital is expected to create a more resilient financial system capable of driving Nigeria's long-term economic development. Source: https://bizwatchnigeria.ng/cbn-bank-recapitalisation-compliance-update-2026/