Amid the CBN’s recapitalisation programme, Central Bank of Nigeria has revealed that 30 banks have met the minimum capital requirements announced in March 2024.
As part of the initiative, 33 banks have raised extra capital through rights issues, initial public offers (IPOs), and private placements, according to a statement released on Friday by CBN’s acting director of corporate communications, Hakama Sidi Ali.
“The Central Bank of Nigeria (CBN) introduced a capitalisation programme for the banking sector in 2024 to strengthen the resilience, stability, and long-term capacity of the financial system to support Nigeria’s economic development,” the apex bank said.
“Since the introduction of the policy, banks across the industry have taken steps to strengthen their capital base in line with the revised regulatory requirements.
“As of March 6, 2026, the recapitalisation exercise is progressing steadily. Thirty (30) banks have met the new minimum capital requirements applicable to their respective licence authorisations.
“In total, thirty-three (33) banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the programme.”
According to CBN, before final certification of compliance within the recapitalisation schedule, the capital positions of the remaining banks are presently going through the regulator’s standard verification process.
“The CBN 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,” the apex bank said.
“The Central Bank of Nigeria will continue to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements.”
The governor of CBN, Olayemi Cardoso, said on February 24 that 20 banks had fully satisfied the minimum capital requirements of the federal bank.
According to Cardoso, the overall verified and authorised capital increase as of February 19 was N4 trillion.
The apex bank declared an increase in the minimum capital requirements for banks on March 28, 2024.
Additionally, CBN also stated that the banks have till March 31, 2026, to meet the requirements.
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