The Central Bank of Nigeria (CBN) has announced the successful completion of its banking sector recapitalisation programme, with Nigerian banks raising a total of ₦4.65 trillion over a 24-month period.
The programme, which commenced in March 2024, attracted strong participation from both domestic and international investors.
This information is contained in a statement jointly signed by the Director Banking Supervision, Dr. Olubukola Akinwunmi, and the Acting Director Corporate Communications, Hakama Sidi Ali.
The apex bank noted that 72.55 per cent of the capital was sourced locally, while 27.45 per cent came from foreign markets, underscoring sustained investor confidence in Nigeria’s banking sector.
CBN Governor, Olayemi Cardoso, said the initiative has significantly strengthened the capital base of banks, positioning the financial system to better withstand both domestic and global economic shocks.
“The recapitalisation programme has reinforced the resilience of the financial system and ensured it is well-positioned to support economic growth,” Cardoso stated.
The CBN disclosed that 33 banks have met the revised minimum capital requirements under the programme, while a few others remain subject to ongoing regulatory and judicial processes. Despite this, all banks continue to operate normally, ensuring uninterrupted access to financial services.
The exercise has also improved key financial indicators, including capital adequacy ratios (CAR), which the sector maintains above international Basel standards. Minimum CAR thresholds remain at 10 per cent for regional and national banks, and 15 per cent for banks with international licences.
In addition, the apex bank disclosed that the recapitalisation, carried out alongside a phased exit from regulatory forbearance, has enhanced asset quality, improved balance sheet transparency, and strengthened overall financial stability.
To sustain these gains, the CBN said it has reinforced its risk-based supervision framework, mandating banks to conduct regular stress testing and maintain adequate capital buffers.
Prudential guidelines and supervisory measures will also be reviewed periodically to improve governance and risk management across the sector.
The apex bank emphasised that the recapitalisation process was executed without disrupting banking operations, allowing individuals and businesses to access services seamlessly throughout the period.
With the programme now concluded, the CBN reaffirmed its commitment to maintaining a stable, transparent, and resilient financial system capable of supporting economic growth, mobilising savings, and boosting investor confidence.
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