The Central Bank of Nigeria (CBN) has reported steady progress in the ongoing recapitalisation of the Nigerian banking sector, noting that several financial institutions have already met the revised capital requirements introduced in 2024.
The recapitalisation programme was launched by the apex bank to strengthen the resilience, stability and long-term capacity of the banking system to support Nigeria’s economic development.
According to the CBN, as of March 6, 2026, the exercise is advancing steadily, with 30 banks already meeting the new minimum capital thresholds applicable to their respective licence categories.
In addition, a total of 33 banks across the industry have successfully raised fresh capital through various channels, including rights issues, initial public offerings (IPOs) and private placements, as part of efforts to comply with the new regulatory framework.
The apex bank stated that the capital positions of the remaining banks are currently undergoing routine verification by the regulator ahead of final confirmation of compliance within the stipulated recapitalisation timeline.
The CBN reassured stakeholders that Nigeria’s banking system remains stable and sound, adding that the recapitalisation programme is firmly on track and will further strengthen the sector’s capacity to support households, businesses and sustainable economic growth.
It added that the regulator will continue to maintain close supervisory engagement with licensed financial institutions to ensure full compliance with prudential and capital requirements.
The statement was issued by the Acting Director of Corporate Communications at the CBN, Hakama Sidi Ali.
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