• Super Admin
• 06 Mar, 2026

30 banks have met the Central Bank of Nigeria (CBN)'s new minimum capital requirements applicable to their respective licence authorisations, as of 6th March,2026, less than 25 days to the March 31st deadline. The Apex bank confirmed this development in a latest update issued by the Acting Director, Corporate Communications, Hakama Sidi Ali. According to the update, in total, 33 banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the programme, it clarified further. The apex bank in 2024 mandated Nigerian banks to recapitalise by March 31, 2026, to strengthen financial stability and support a $1 trillion economy. New minimum capital requirements (paid-up capital + share premium) are ₦500 billion for international, ₦200 billion for national, and ₦50 billion for regional commercial banks; Merchant Banks ₦50 billion and Non-Interest Banks ₦20 billion (national) and ₦10 billion (regional). The CBN acknowledged that steady progress has been recorded by the recapitalisation exercise, noting 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. It 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", it affirmed in the statement, pledging to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements. Source: https://newtelegraphng.com/30-banks-meet-cbns-minimum-capital-threshold/