30 Banks Meet CBN Recapitalisation Requirements
As of March 6, 2026, thirty banks in Nigeria have successfully met the new minimum capital requirements set by the Central Bank of Nigeria (CBN) as part of its recapitalisation programme introduced in 2024. This initiative aims to bolster the resilience and stability of the financial system, ensuring that banks can effectively support economic growth.
According to the CBN, thirty-three banks have raised additional capital through various means, including rights issues, initial public offerings (IPOs), and private placements. The total verified and approved capital raised by these banks reached approximately N4 trillion as of February 19, 2026. The new minimum capital requirements established by the CBN are N500 billion for international banks, N200 billion for national banks, and N50 billion for regional commercial banks.
The CBN governor highlighted the importance of this recapitalisation effort, stating, “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.” This sentiment reflects the CBN’s commitment to ensuring that the banking sector can withstand economic challenges and contribute to Nigeria’s development.
Since the introduction of the recapitalisation programme, the CBN has maintained close supervisory engagement with financial institutions to ensure compliance with regulations. The CBN has reiterated that no bank will be allowed to collapse in a way that jeopardizes customers’ funds, underscoring its dedication to protecting depositors and maintaining public confidence in the banking system.
As part of the ongoing process, the capital positions of the remaining banks are currently undergoing the CBN’s routine verification process. The deadline for all banks to meet the revised capital requirements is set for March 31, 2026. This timeline has created a sense of urgency among banks to finalize their capital-raising efforts.
The recapitalisation programme was first announced by the CBN on March 28, 2024, as a response to the need for a more robust banking system capable of supporting Nigeria’s economic ambitions. The CBN has consistently stated that the entire banking system remains stable and sound, providing reassurance to stakeholders in the financial sector.
Observers are closely monitoring the situation as the deadline approaches, with expectations that more banks will meet the requirements. However, details remain unconfirmed regarding the final status of all banks and their compliance with the new capital thresholds.