Parallex, Tatum Banks Meet CBN’s N50bn Capital Requirement

Parallex Bank Limited and Tatum Bank have announced that they have met the N50 billion minimum capital requirement for regional commercial banks set by the Central Bank of Nigeria (CBN), ahead of the regulatory deadline.
Managing Director and Chief Executive Officer of Parallex Bank, Olufemi Bakre, said the bank’s attainment of the new capital threshold strengthens its financial position and supports its long term growth strategy.
Bakre noted that the milestone reflects the institution’s commitment to disciplined growth, strong corporate governance and operational resilience.
“With this strengthened capital position, Parallex Bank is better equipped to expand lending, deepen financial inclusion and continue delivering innovative, customer focused banking solutions across the retail, SME and corporate segments of the economy,” he said.
According to him, the improved capital base will enable the bank to support businesses and households while expanding access to financial services across its regional markets.
Similarly, Tatum Bank also confirmed that it has met the required capital base after the CBN verified its compliance with the regulatory requirement for financial institutions.
Managing Director of Tatum Bank, Niyi Adeseun, described the development as a major step that further positions the bank for sustainable growth and improved service delivery.
“This milestone is a strong affirmation of the solid foundation upon which Tatum Bank was built. Our vision has always been to create a safe financial haven where customers can confidently pursue their financial goals,” Adeseun said.
He added that the bank would continue to build on the achievement by strengthening its commitment to delivering seamless and reliable banking experiences for customers.
Also speaking on the bank’s strategic direction, the chairman, Samuel Ologunorisa, said the institution would continue to leverage digital innovation to expand access to financial services across the country.
“Our strategy is firmly anchored on leveraging digital banking solutions to drive financial inclusion while supporting the growth of businesses and large corporations. By combining strong governance with innovative technology, Tatum Bank is well positioned to contribute meaningfully to Nigeria’s economic development,” he stated.
Ologunorisa further noted that the bank’s operations are guided by strong corporate governance standards, responsible environmental, social and governance practices as well as a robust enterprise risk management framework.
Tatum Bank, which commenced full banking operations in May 2025, achieved the capital milestone in less than a year, signalling its readiness to deepen its role in Nigeria’s financial services sector as banks continue to adjust to the new capital requirements introduced by the apex bank.