The Central Bank of Nigeria (CBN) has again reported a steady progress in the ongoing banking sector recapitalization, with 30 banks meeting the new minimum capital requirements.
In a statement on Friday by its Ag. Director, Corporate Communications, Mrs. Hakama Sidi Ali, the apex bank stated that the recapitalisation programme remains firmly on track and would further strengthen the capacity of the banking sector to support households, businesses, and sustainable
economic growth.
According to the statement, the CBN reiterated that the Nigerian banking system remains stable and sound.
It said “as of March 6, 2026, the recapitalisation exercise is progressing steadily. Thirty (30)
banks have met the new minimum capital requirements applicable to their respective
licence authorisations.
“In total, thirty-three (33) banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the programme.”
Recall that the CBN introduced the recapitalisation programme for the banking sector in 2024 to strengthen the resilience, stability, and long-term capacity of the financial system to support Nigeria’s economic development.
Since the introduction of the policy, banks across the industry have taken steps to strengthen their capital base in line with the revised regulatory requirements.
CBN said the capital positions of the remaining banks are currently undergoing the Central Bank’s routine verification process ahead of final confirmation of compliance within
the recapitalisation timeline.
The CBN said it would continue to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements.
