• Super Admin
• 07 Mar, 2026

Less than one month to conclude banks' recapitalisation exercise, the Central Bank of Nigeria (CBN) said 30 banks have met the new minimum capital requirements. According to a statement released early Saturday morning, signed by Acting Director, Corporate Communications, Mrs Hakama Sidi Ali, the CBN said, "As of March 6, 2026, the recapitalisation exercise is progressing steadily and 30 banks have met the new minimum capital requirements applicable to their respective licence authorisations." The apex bank regulator in its explanation said, "in total, 33 banks have raised additional capital through rights issues, Initial Public Offerings (IPOs), and private placements as part of the programme," adding that 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 apex regulator introduced recapitalisation exercise in 2024 and set N500 billion for commercial banks with international authorisation, N200 billion for national banks, and N50 billion for regional banks. The non-interest banks, under national category are to recapitalise with N20 billion while region banks would increase their the capital to N10 billion. The CBN also set deadline to conclude the new minimum capital requirements on March 31, 2026, and this placed many banks under pressure to scramble for fund. The CBN however, said the new recapitalisation process aimed to strengthen the resilience, stability, and long-term capacity of the financial system to support Nigeria's economic development, adding that 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 CBN reiterated that the Nigerian banking system remains stable and sound, stressing that 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 Central Bank of Nigeria assured the public that it will continue to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements. Source: https://blueprint.ng/breaking-30-banks-scale-cbn-recapitalisation-hurdles-full-list/