30 Banks Meet CBN Recapitalisation Requirements
As of March 6, 2026, thirty banks in Nigeria have successfully met the new minimum capital requirements set by the Central Bank of Nigeria (CBN) as part of its recapitalisation programme introduced in 2024. This initiative aims to bolster the resilience and stability of the banking sector, ensuring it can effectively support economic growth.
According to the CBN, thirty-three banks have raised additional capital through various means, including rights issues, initial public offerings (IPOs), and private placements, contributing to a total verified and approved capital of approximately N4 trillion. The new minimum capital requirements stipulate N500 billion for international banks, N200 billion for national banks, and N50 billion for regional commercial banks.
The recapitalisation programme is progressing steadily since its inception, with the CBN emphasizing that it remains firmly on track. “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,” a CBN spokesperson stated.
The last significant increase in capital requirements occurred in 2004, when the minimum capital requirement was set at N25 billion. The current adjustments reflect the evolving economic landscape and the need for banks to maintain robust capital positions. As of now, the capital positions of the remaining banks are undergoing the Central Bank’s routine verification process.
The CBN has reassured the public that the Nigerian banking system remains stable and sound. “The entire banking system remains stable and sound,” the CBN reiterated, highlighting the effectiveness of the recapitalisation efforts in maintaining financial integrity.
As part of the programme, banks were given until March 31, 2026, to comply with the revised capital requirements. The CBN has also made it clear that no bank will be allowed to collapse in a manner that jeopardizes customers’ funds, ensuring a safeguard for depositors.
Observers are closely monitoring the situation as the deadline approaches, with expectations that the remaining banks will finalize their capital positions. Details remain unconfirmed regarding any further measures that may be implemented should banks fail to meet the requirements.