EXPLAINER: What to know about CBN’s 2026 banking recapitalisation exercise

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The Central Bank of Nigeria has addressed concerns and rumours surrounding the ongoing banking recapitalisation exercise.

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In a thread posted on X on Tuesday, the apex bank said the Nigerian banking sector is sound and stable, that customer deposits are fully safe and protected, and that banking services remain unchanged.

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It also said the March 31, 2026 deadline poses no danger to the public or their deposits.

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The apex bank made this known in a series of infographics posted on its official X handle on Tuesday.

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What is recapitalisation?

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The CBN explained that recapitalisation is “a routine process where banks increase their capital base to make them stronger, more resilient, and better able to serve customers and support the economy.”

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What happens on March 31?

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March 31, 2026, marks the deadline for banks to meet recapitalisation requirements. The CBN was clear that the date was not one for customers to worry about, saying the deadline did not pose any danger to the public or their deposits.

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“The deadline is a timeline for banks — not customers,” it stated, adding that daily banking services would continue without disruption beyond that date.

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Will my money be safe?

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Bank customers need not panic about the safety of their funds. “Your accounts and funds are unaffected. Banking products and services continue as normal,” the CBN stated.

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It further assured depositors that “customer deposits remain fully safe and protected.”

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Should I withdraw my funds or close my account?

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The CBN advised customers against taking such steps, stressing that the exercise was intended to make banks stronger, not weaker.

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“Recapitalisation strengthens banks and protects customer deposits. Your money remains safe, and daily banking continues as usual,” it stated.

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Are Nigerian banks in trouble?

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Nigerians worried about the health of the banking sector were offered direct reassurance.

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“The Nigerian banking sector is sound, stable, and operating normally. There is no crisis,” the CBN stated.

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Is my bank at risk of shutting down?

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On fears that individual banks could be forced to close, the CBN said the process was being closely monitored at the regulatory level.

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“The recapitalisation process is supervised to ensure stability across the entire sector,” it stated.

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Will recapitalisation make banking more expensive?

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Customers concerned about rising charges can take comfort in the CBN’s position on the matter.

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“Recapitalisation is about strengthening banks, not increasing customer charges,” it stated.

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Will banking hours, services or operations change?

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There will be no disruption to everyday banking. “Banking services remain unchanged. Customers can continue to use ATMs, apps, branches, and online services as usual,” the CBN stated.

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I saw a message on social media saying banks will freeze accounts. Is this true?

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The CBN described such claims as entirely false and urged the public not to act on them.

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“No, this is false. Banks will not freeze customer accounts. Please ignore unverified social media rumours,” it stated.

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How does recapitalisation benefit me as a customer?

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Rather than viewing the exercise with suspicion, the CBN said customers stood to gain from it directly.

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It said the exercise would lead to stronger, more resilient banks, better customer protection, improved service delivery and more stable financial operations.

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What should I do if I suspect a scam?

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Customers who encounter suspicious activity should not hesitate to report it.

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“Immediately report to the bank’s fraud desk or the Central Bank’s official complaint and scam-reporting channels,” the CBN stated, directing the public to [email protected].

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How do I verify if a message or phone call is legitimate?

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To avoid falling victim to fraud, the CBN advised customers to compare information with official announcements, contact their bank only through verified customer service channels, and never share PINs, passwords or OTPs with anyone.

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Where can I get accurate information about my bank?

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“Always rely on official statements from your bank, the Central Bank of Nigeria, or verified information sources,” the CBN stated.

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It can be reached at www.cbn.gov.ng, by phone on 08176657060, or by email at [email protected].n

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