CBN Says 30 Banks Meet New Capital Requirements as Recapitalisation Exercise Gains Momentum
By Onwe Wisdom, Pan Afric Reporters
The Central Bank of Nigeria (CBN) has announced steady progress in the ongoing banking sector recapitalisation programme, revealing that 30 commercial banks have already met the new minimum capital requirements set under the reform initiative.
The apex bank disclosed this in a press release issued on March 6, 2026, noting that the recapitalisation programme, introduced in 2024, aims to strengthen the resilience, stability, and long-term capacity of Nigeria’s financial system to support the country’s economic development.
According to the CBN, banks across the industry have been taking deliberate steps to shore up their capital base in line with revised regulatory requirements since the introduction of the policy.
“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 statement said.
The bank further disclosed that a total of 33 banks have raised additional capital through various financial instruments including rights issues, initial public offerings (IPOs), and private placements as part of efforts to comply with the new capital framework.
However, the capital positions of the remaining banks are still undergoing routine verification by the apex bank ahead of final confirmation of compliance within the recapitalisation timeline.
The CBN reassured stakeholders that the Nigerian banking system remains stable and sound, emphasizing that the recapitalisation programme is firmly on track.
“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 regulator also pledged to maintain close supervisory engagement with financial institutions to ensure full compliance with prudential and capital requirements.
The statement was signed by Mrs. Hakama Sidi Ali, Acting Director of Corporate Communications at the CBN.
The recapitalisation initiative is widely seen as a strategic move by the apex bank to strengthen the banking industry, boost investor confidence, and position Nigerian banks to finance large-scale economic activities in Africa’s largest economy.
