30 Banks Meet CBN’s New Minimum Capital Requirements

Thirty banks in Nigeria have met the new minimum capital requirements introduced by the Central Bank of Nigeria (CBN) as part of the ongoing banking sector recapitalisation programme.

The development marks a significant milestone in the apex bank’s effort to strengthen the financial system and position banks to better support economic growth.

In a statement issued on Friday night, the Acting Director of Corporate Communications at the CBN, Hakama Sidi Ali, said the recapitalisation exercise was progressing steadily across the banking industry.

The CBN had in 2024 unveiled a comprehensive recapitalisation programme aimed at boosting the resilience, stability and long-term capacity of Nigerian banks amid evolving economic and financial sector demands.

Under the programme, banks were required to raise fresh capital to meet revised minimum thresholds tied to their licence categories.

Providing an update on the process, Ali said many banks had already taken concrete steps to strengthen their capital base through various market-driven funding options “As of March 6, 2026, the recapitalisation exercise is progressing steadily. 30 banks have met the new minimum capital requirements applicable to their respective licence authorisation,” Mrs Ali said.

She added that a total of 33 banks had raised additional capital as part of the programme. “In total, 33 banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the programme,” she said.

According to her, the capital positions of the remaining banks are currently undergoing the regulator’s verification process before final confirmation of compliance within the stipulated timeline.

“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 time line,” she stated.

The CBN reiterated that the Nigerian banking sector remains stable and well positioned to support the country’s economic activities.

It noted that the recapitalisation initiative would further strengthen banks’ ability to provide credit to households and businesses while supporting sustainable economic growth.

The apex bank also assured that it would continue to maintain close supervisory engagement with regulated financial institutions to ensure full compliance with prudential and capital requirements.