• Super Admin
• 07 Mar, 2026

The Central Bank of Nigeria (CBN) has announced significant progress in its ongoing banking sector recapitalisation exercise, with 30 banks now having fully met the new minimum capital requirements well before the March 31, 2026 deadline. In a statement issued on Friday, March 6, 2026, and signed by Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, the apex bank confirmed that the recapitalisation process is advancing steadily. "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," the statement read. A total of 33 banks have raised fresh capital through mechanisms such as rights issues, initial public offerings (IPOs), and private placements as part of the industry-wide programme launched in March 2024. The revised policy set higher minimum paid-up capital thresholds based on licence categories: N500 billion for international commercial banks, N200 billion for national commercial banks, N50 billion for regional commercial banks and merchant banks, N20 billion for national non-interest banks, and N10 billion for regional non-interest banks. The update follows an earlier disclosure in February 2026, when the CBN reported that 20 banks had complied, having collectively raised N4.05 trillion. The recent surge to 30 compliant banks indicates accelerated efforts by remaining institutions in the final weeks leading up to the deadline. Three additional banks are currently undergoing verification processes, while the CBN has urged all stakeholders to ensure full compliance to strengthen the sector's resilience, support economic growth, and align with broader goals of building a more robust financial system. This recapitalisation drive is part of the CBN's strategy to enhance banks' capacity to withstand risks, expand lending to critical sectors, and contribute to Nigeria's aspiration for a trillion-dollar economy. Source: https://www.nigerianeye.com/2026/03/cbn-30-banks-meet-new-minimum-capital.html