• Super Admin
• 07 Mar, 2026

Banks raise over ₦4 trillion through market funding as regulator moves to strengthen financial system ahead of recapitalisation deadline..... The Central Bank of Nigeria (CBN) has revealed that 30 banks have successfully met the revised minimum capital requirements introduced under its ongoing banking sector recapitalisation programme. The update was disclosed on Friday in a statement issued by the apex bank's Acting Director of Corporate Communications, Hakama Sidi-Ali. According to the CBN, the latest development follows an earlier announcement that 20 banks had already met the requirements ahead of the March 31 deadline, with financial institutions collectively raising about ₦4.05 trillion to strengthen their capital positions. Recapitalisation Drive Gathering Pace The regulator said the recapitalisation exercise which officially began in 2024 continues to make steady progress as banks pursue multiple funding strategies to boost their capital bases. "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," the CBN said in the statement. The bank added that 33 financial institutions in total have raised additional capital through various channels, including: These fundraising efforts, according to the regulator, demonstrate strong participation by banks in the capital market as they work to comply with the revised policy framework. Verification Process Underway While several banks have already satisfied the required thresholds, the CBN said the remaining institutions are currently undergoing supervisory verification before their compliance is formally confirmed. "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 statement said. The regulator explained that the verification process forms part of its oversight responsibility to ensure that funds raised by financial institutions meet prudential and regulatory standards. Strengthening the Banking Sector The recapitalisation programme was introduced by the Central Bank of Nigeria in 2024 as part of broader reforms aimed at strengthening the resilience of Nigeria's banking industry. Under the policy, banks are required to raise fresh capital to meet new minimum thresholds tied to their operating licences. The move is intended to position Nigerian banks to better support economic growth by expanding their lending capacity and improving their ability to absorb financial shocks. According to the CBN, stronger capital buffers will help ensure that banks remain capable of financing businesses, supporting households, and maintaining stability in the financial system even during periods of economic volatility. Banking System Remains Stable Despite the adjustments currently taking place across the industry, the apex bank maintained 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 regulator said. The CBN also assured investors, depositors, and other stakeholders that it will continue to maintain close regulatory oversight throughout the recapitalisation process to ensure transparency and compliance across the sector. Source: https://www.tv360nigeria.com/30-nigerian-banks-meet-new-capital-requirements-as-cbn-recapitalisation-drive-gains-momentum/