30 banks meet CBN recapitalisation requirements

By Emma Ujah, Abuja

The Central Bank of Nigeria (CBN) has disclosed that 30 banks have met the revised minimum capital requirements under its ongoing recapitalisation programme.

Mrs. Hakama Sidi Ali, Acting Director of Corporate Communications at the CBN, said in a statement that the exercise, launched in 2024, aims to strengthen the resilience, stability, and long-term capacity of Nigeria’s banking sector to support 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,” she said. “As of March 6, 2026, thirty banks have met the new minimum capital requirements applicable to their respective licences.”

Mrs. Ali added that a total of 33 banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the programme. The remaining banks’ capital positions are undergoing CBN verification before final confirmation of compliance.

She reassured that the Nigerian banking system remains stable and sound, noting that the recapitalisation programme is on track and will further enhance the sector’s capacity to support households, businesses, and sustainable economic growth.

“The Central Bank of Nigeria will continue to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements,” she concluded.