Thirty banks in Nigeria have met the new minimum capital requirements under the Central Bank of Nigeria’s (CBN) banking sector recapitalisation programme, the apex bank confirmed on Friday.
The recapitalisation exercise, launched in 2024, aims to strengthen the resilience, stability, and capacity of the financial system. In a statement, the CBN’s Acting Director of Corporate Communications, Hakama Sidi-Ali, said several banks had successfully increased their capital through rights issues, initial public offerings (IPOs), and private placements.
“As of March 6, 2026, thirty banks have met the new minimum capital requirements applicable to their respective licence authorisations. In total, thirty-three banks have raised additional capital through rights issues, IPOs, and private placements as part of the programme,” the statement read.
The CBN explained that the capital positions of the remaining banks are undergoing routine verification before final confirmation of compliance. This supervisory process ensures that the capital raised aligns with regulatory and prudential standards.
The recapitalisation programme requires banks to meet revised minimum capital thresholds based on their operating licences. Since its launch, many banks have raised funds from domestic and international investors, undertaken corporate restructuring, and executed strategic capital-raising initiatives to meet the regulatory deadlines.
The CBN emphasised that the Nigerian banking system remains stable and sound despite ongoing capital adjustments. The programme is expected to further strengthen the sector’s ability to support households, businesses, and sustainable economic growth.
CBN Governor Olayemi Cardoso revealed that banks had raised N4.05 trillion in verified and approved capital ahead of the March 31, 2026, recapitalisation deadline.
This figure nearly doubles the N2.4 trillion raised as of April 2025. Of the total, N2.90 trillion (71.6%) was mobilised domestically, while N1.15 trillion (28.33%) came from foreign investors, reflecting broad investor confidence in Nigeria’s banking sector.
The apex bank assured stakeholders that it will continue close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements.
