No Bank Shutdown: Nigerian Banks Safe and Sound, ACAMB Reassures
In a definitive move to quell rising public anxiety, the Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) has issued a strong statement: Nigerian banks are not shutting down.
The clarification, released on December 21, 2025, follows a viral social media video alleging that the Central Bank of Nigeria (CBN) would close 12 banks by March 2026 for failing to meet new capital requirements. ACAMB has branded these claims as “misleading, alarmist, and legally reckless.
Table of Contents
The Rumor vs. The Reality: Why No Banks Are Closing
Recapitalization 101: A Proactive Leap, Not a Crisis
The “Success List”: 16 Banks That Have Already Crossed the Line
Status Check: How Your Bank is Performing
A Warning to “Panic-Peddlers”: The Cybercrime Act
The Rumor vs. The Reality: Why No Banks Are Closing
Social media “content creators” recently sparked a wave of panic by suggesting a banking collapse was imminent. ACAMB President Rasheed Bolarinwa clarified that the ongoing recapitalization is a voluntary, planned strengthening exercise—not a response to a financial emergency.
Fact: No bank is facing distress.
Fact: All banks have submitted feasible recapitalization plans that were vetted and approved by the CBN.
Fact: The exercise is designed to help Nigeria reach a $1 trillion economy by 2030.
Recapitalization 101: A Proactive Leap, Not a Crisis
Recapitalization simply means banks are increasing their “permanent capital” (paid-up share capital and share premium). This acts as a shock absorber against global economic shifts.
| Bank Category | New Minimum Capital |
| International Commercial Banks | ₦500 Billion |
| National Commercial Banks | ₦200 Billion |
| Regional Commercial Banks | ₦50 Billion |
| Non-Interest (Islamic) Banks | ₦20 Billion (National) / ₦10 Billion (Regional) |
The “Success List”: 16 Banks That Have Already Crossed the Line
As of December 20, 2025, exactly 100 days before the March 31, 2026 deadline, the CBN has confirmed that 16 banks have already met or exceeded their targets.
| Already Compliant Banks |
| Tier-1 Giants: Access Bank, Zenith Bank, GTBank, UBA |
| National & Regional: Wema Bank, Stanbic IBTC, Ecobank, Providus Bank |
| Niche & Merchant: Jaiz Bank, Lotus Bank, Greenwich Merchant Bank, PremiumTrust Bank |
| New Compliants: Sterling Bank, Globus Bank, Citibank Nigeria, Nova Bank |
Status Check: How Your Bank is Performing
If your bank isn’t on the list above, there is still no reason to worry. The CBN Governor, Olayemi Cardoso, noted that 27 banks have already successfully raised significant capital through rights issues and public offers.
Fidelity Bank & FCMB: Currently in the advanced stages of capital verification and share issuance. Both are expected to comfortably meet the deadline.
Standard Chartered: Backed by its massive global parent company, ensuring high stability.
Polaris & Keystone: While they haven’t publicly announced full compliance yet, they have clear, CBN-monitored pathways to meet the requirements.
A Warning to “Panic-Peddlers”: The Cybercrime Act
ACAMB has emphasized that spreading false information about the banking sector constitutes economic sabotage. The association is working with law enforcement to track down those using the Cybercrime Act to destabilize public trust in the financial system.
The Bottom Line: Your money is safe. The banking sector is getting stronger, not smaller.
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