Nigerian banks raised a total of ₦4.65 trillion in new capital, as the Central Bank of Nigeria (CBN) announces the successful conclusion of the banking sector recapitalisation programme initiated in March 2024.
The 24months recapitalisation exercise was designed to strengthen the resilience of the financial system and enhance its capacity to support the nation’s economy.
In a joint statement signed on Wednesday by the Director, Banking Supervision , Dr.
Olubukola A. Akinwunmi, and Ag. Director, Corporate Communications, Mrs.
Hakama Sidi Ali, the apex bank revealed that the programme recorded strong participation from both domestic and international investors, with 72.55% of capital sourced locally and 27.45% from international markets, reflecting sustained confidence in the Nigerian banking sector.
The statement said while commenting on the development, the CBN Governor, Olayemi Cardoso said: “The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is wellpositioned to support economic growth and withstand domestic and
external shocks.”
The CBN confirmed that 33 banks have met the revised minimum capital requirements established under the programme. A limited number of institutions remain subject to ongoing
regulatory and judicial processes, which are being addressed through established
supervisory and legal frameworks.
It noted that all banks remain fully operational, ensuring continued access to banking services for
customers.
“The programme has strengthened capital adequacy ratios (CAR), with the sector maintaining levels above international Basel benchmarks. Minimum CAR thresholds remain at 10% for regional and national banks and 15% for banks with international authorization.
“The recapitalisation, implemented alongside an orderly exit from regulatory forbearance, has improved asset quality, reinforcing balance sheet transparency and overall financial system
stability,” the statement said.
CBN said to safeguard these gains, it has strengthened its riskbased capital adequacy framework, requiring banks to conduct regular stress testing across defined scenarios and maintain appropriate capital buffers.
The apex bank informed that key regulatory measures, including prudential guidelines and the supervisory framework, are subject to periodic review to support ongoing strengthening of governance, risk management,
and sector resilience.
“The recapitalisation programme was carried out without disruption to banking services, ensuring continuous access for individuals and businesses throughout the process.
“The successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks,” the statement noted.
It said the CBN remains committed to maintaining a stable, transparent, and resilient financial system that inspires confidence among depositors, investors, and the broader public, and to advancing the sustainability of the nation’s financial architecture.
