The Central Bank of Nigeria, has said that thirty banks have met the new minimum capital requirements introduced under its banking sector recapitalisation programme.
Conveying this in a statement on Friday, the Acting Director of Corporate Communications at the CBN, Hakama Sidi-Ali, stated that several lenders had successfully strengthened their capital base through different fundraising channels, including rights issues, initial public offerings and private placements.
As of March 6, 2026, the recapitalisation exercise is progressing steadily, it said, adding that thirty banks have met the new minimum capital requirements applicable to their respective licence authorisations.
It added:” In total, thirty-three (33) banks have raised additional capital through rights issues, initial public offerings, and private placements as part of the programme.”
According to the apex bank, the capital positions of the remaining banks were currently undergoing routine verification before final confirmation of compliance within the stipulated timeline for the recapitalisation exercise.
The verification process, it noted, forms part of its supervisory role aimed at ensuring that the capital raised by banks aligns with regulatory standards and prudential requirements.
“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 statement added.
The CBN introduced the recapitalisation programme in 2024 as part of efforts to strengthen the resilience, stability and long-term capacity of Nigeria’s banking system to support economic development.
Under the programme, banks were required to raise fresh capital to meet revised minimum thresholds based on the category of their operating licences.
The bank reiterated that the banking system remained stable and sound despite ongoing capital adjustments by financial institutions.
It stated, “The CBN reiterates that the Nigerian banking system remains 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.”
It further assured stakeholders that it would continue to maintain close supervisory engagement with regulated institutions throughout the process.
It said:“The Central Bank of Nigeria will continue to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements.”
