• Super Admin
• 06 Mar, 2026

The Central Bank of Nigeria (CBN) has announced that 30 banks have successfully met the new minimum capital requirements introduced under its ongoing banking sector recapitalisation programme. The apex bank disclosed this in a statement issued on Friday by its Acting Director of Corporate Communications, Hakama Sidi Ali, who said the exercise is progressing steadily as financial institutions continue to strengthen their capital base. According to the CBN, 33 banks have so far raised additional capital through various instruments including rights issues, initial public offerings (IPOs) and private placements as part of efforts to comply with the revised regulatory framework. "The Central Bank of Nigeria introduced a capitalisation programme for the banking sector in 2024 to strengthen the resilience, stability and long-term capacity of the financial system to support Nigeria's economic development," the statement said. The regulator noted that since the policy was unveiled, banks across the industry have taken significant steps to improve their capital buffers in line with the new requirements tied to their respective operating licences. "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 apex bank stated. "In total, thirty-three banks have raised additional capital through rights issues, initial public offerings and private placements as part of the programme." The CBN further explained that the capital positions of the remaining banks are currently undergoing its routine verification process before final confirmation of compliance within the stipulated recapitalisation timeline. The regulator reaffirmed that Nigeria's banking system remains stable and well-positioned to support economic activities. "The Central Bank of Nigeria reiterates 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 statement added. The apex bank also assured that it would continue to maintain close supervisory engagement with financial institutions to ensure they fully comply with prudential and capital adequacy requirements. Earlier in February, the Governor of the CBN, Olayemi Cardoso, had disclosed that about 20 banks had already met the minimum capital threshold, indicating steady progress in the recapitalisation drive. Cardoso revealed at the time that as of February 19, the total verified and approved capital raised by banks stood at about N4 trillion, reflecting strong investor participation in the sector. The recapitalisation programme was first announced by the CBN on March 28, 2024, when the regulator significantly increased the minimum capital requirements for banks as part of broader reforms aimed at strengthening Nigeria's financial system. Under the new framework, banks are required to meet higher capital thresholds depending on the scope of their operations and licence category. The CBN had given financial institutions until March 31, 2026 to comply with the new capital benchmarks. Source: https://hallmarknews.com/thirty-banks-meet-new-capital-requirements-as-recapitalisation-deadline-approaches/