30 banks meet CBN recapitalisation requirements
Central Bank of Nigeria Reports 30 Banks Meet Recapitalization Requirements
By Emma Ujah, Abuja
The Central Bank of Nigeria (CBN) announced that 30 banks have successfully met the revised minimum capital requirements established under its ongoing recapitalization program.
Mrs. Hakama Sidi Ali, Acting Director of Corporate Communications at CBN, stated in a recent press release that the initiative, which commenced in 2024, is designed to bolster the resilience, stability, and long-term capabilities of Nigeria’s banking sector to foster economic development.
“Since the policy’s introduction, banks across the industry have taken significant steps to enhance their capital base in accordance with the updated regulatory standards,” Mrs. Ali said. “As of March 6, 2026, thirty banks have fulfilled the new minimum capital requirements pertinent to their licensure.”
In her remarks, she noted that 33 banks have raised additional capital through various means, including rights issues, initial public offerings (IPOs), and private placements as part of the recapitalization effort. The capital positions of the remaining banks are currently undergoing verification by the CBN before a final compliance assessment.
Mrs. Ali affirmed the stability and soundness of the Nigerian banking system, indicating that the recapitalization program is progressing effectively and will further enhance the sector’s capacity to support households, businesses, and sustainable economic growth.
“The Central Bank of Nigeria will maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements,” she concluded.
