30 Banks Meet New Capital Requirements in Nigeria
As of March 6, 2026, thirty banks in Nigeria have successfully met the new minimum capital requirements set forth by the Central Bank of Nigeria (CBN) as part of its ongoing recapitalisation programme. This initiative, first introduced in 2024, aims to bolster the resilience and stability of the country’s banking sector.
The recapitalisation programme has prompted thirty-three banks to raise additional capital through various means, including rights issues, initial public offerings (IPOs), and private placements. As of February 19, 2026, these banks have collectively verified and approved a total of N4 trillion in capital, a significant step towards enhancing their financial capacity.
The CBN has established new minimum capital requirements that are considerably higher than those set in 2004. For international banks, the minimum capital requirement is now N500 billion, while national banks must meet a threshold of N200 billion. Regional commercial banks and merchant banks are required to maintain a minimum of N50 billion, and national non-interest banks must have at least N20 billion.
According to the CBN, the recapitalisation exercise is progressing steadily, with the banking system remaining 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,” a CBN spokesperson stated.
In the context of these developments, banks were given a deadline of March 31, 2026, to comply with the revised capital requirements. The CBN has emphasized that no bank will be allowed to collapse in a manner that jeopardizes customers’ deposits, reinforcing its commitment to safeguarding the financial system.
Observers note that the recapitalisation programme is crucial for the long-term health of Nigeria’s financial sector, especially in light of the challenges faced by banks in recent years. The CBN’s proactive measures are seen as essential to ensuring that the banking sector can effectively support economic growth and stability.
Details remain unconfirmed regarding the final outcomes of the recapitalisation programme as the deadline approaches. However, the CBN’s ongoing efforts and the positive responses from banks indicate a significant shift towards a more robust banking environment in Nigeria.