CBN Recapitalization Update: 20 Banks Meet Capital Requirements Ahead of Deadline
The Central Bank of Nigeria’s recapitalization exercise has recorded fresh progress as 20 commercial banks have so far met the required capital thresholds. This was confirmed as of Thursday, January 15, 2026, showing steady movement ahead of the March 31, 2026, deadline set by the apex bank.
This update was disclosed by the CBN’s Deputy Governor for Economic Policy, Dr. Muhammad Abdullahi, during a discussion on the status of the Central Bank of Nigeria’s recapitalization program. He made the disclosure during a panel session at the launch of the 2026 Macroeconomic Outlook organized by the Nigerian Economic Summit Group in Lagos.
Dr. Abdullahi noted that the Central Bank of Nigeria recapitalization process has been very active, with constant engagement between the regulator and financial institutions. He added that more banks are meeting the requirements daily as submissions and reviews continue at the CBN’s level.
The Director said, “We have about 20 banks that have already met it. A number of banks are meeting it every day.
“They’re huge. It’s very busy within CBN today, tomorrow, and through to March, as you can imagine.”
According to him, the apex bank is now shifting attention to how the Central Bank of Nigeria recapitalization effort impacts the real economy. The CBN wants to ensure that stronger capital positions among banks lead to productive and sustainable credit growth.
He continued, “The focus that we really are turning our attention to, especially from the financial system stability side, is that we ensure that a strengthened capital base translates into credit that is productive, that is well targeted, and that is sustainable.”
The latest figure marks an increase from the 19 banks earlier reported to have met the Central Bank of Nigeria recapitalization requirements as of January 6, 2026. This suggests that about 13 banks are still working to fully comply by submitting the necessary documentation and reports.
It will be recalled that the Central Bank of Nigeria recapitalization framework was announced in March 2024, with a March 31, 2026, deadline. Under the policy, international banks are required to maintain a minimum capital base of N500 billion, national banks N200 billion, and merchant banks N50 billion, while non-interest banks are expected to hold between N10 billion and N20 billion.
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