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.

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As of March 6, 2026, thirty banks in Nigeria have successfully met the new minimum capital requirements set forth by the Central Bank of Nigeria (CBN) as part of its recapitalisation programme initiated in 2024. This initiative aims to bolster the banking sector’s capacity to support economic growth, with a total of thirty-three banks raising additional capital through various means, including rights issues, initial public offerings (IPOs), and private placements.

Progress of the Recapitalisation Exercise

The CBN has reported that the recapitalisation exercise is progressing steadily, with the total verified and approved capital raised by banks reaching approximately N4 trillion as of February 19, 2026. The CBN emphasized that the Nigerian banking system remains stable and sound, reinforcing confidence in the financial sector.

Minimum Capital Requirements

Under the new regulations, banks were required to meet revised capital thresholds by March 31, 2026. The minimum capital requirements are set at N500 billion for international banks, N200 billion for national banks, and N50 billion for regional commercial banks. This marks a significant increase from the last major capital requirement adjustment in 2004, which was set at N25 billion.

The recapitalisation programme was first announced by the CBN on March 28, 2024, as part of a broader strategy to enhance the resilience, stability, and long-term capacity of Nigeria’s financial system. The CBN has reiterated its commitment to ensuring that no bank collapses in a manner that jeopardizes customers’ funds.

Verification of Remaining Banks

While thirty banks have met the new requirements, the capital positions of the remaining banks are currently undergoing verification by the CBN. This process is crucial to ascertain the overall health of the banking sector and ensure compliance with the new regulations.

Expectations Moving Forward

Observers expect that the successful implementation of the recapitalisation programme will further strengthen the banking sector’s ability to support households and businesses, contributing to sustainable economic growth in Nigeria. The CBN has stated, “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.”

As the deadline for compliance approaches, the focus remains on the remaining banks and their ability to meet the new capital requirements. Details remain unconfirmed regarding the outcomes of the verification process for these institutions.

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“Thirty (30) banks have met the new minimum capital requirements applicable to their respective license authorizations,” stated Hakama Sidi Ali, a representative of the Central Bank of Nigeria (CBN), on March 6, 2026.

This announcement comes as part of a broader recapitalisation programme introduced in 2024, aimed at enhancing the resilience of Nigeria’s banking system. As of now, three banks are still undergoing regulatory verification for compliance, while a total of 33 banks have successfully raised additional capital through rights issues, initial public offerings (IPOs), and private placements.

The deadline for banks to meet these new capital requirements is set for March 31, 2026. The CBN has emphasized that the Nigerian banking system remains stable and sound, a crucial assurance amidst ongoing reforms.

“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,” added Sidi Ali.

The CBN has committed to maintaining close supervisory engagement with regulated institutions during this recapitalisation process to ensure full compliance with prudential and capital requirements.

This regulatory push is viewed as one of the most significant reforms in Nigeria’s banking sector since the consolidation exercise in 2004, which aimed to stabilize and strengthen the financial landscape.

As the deadline approaches, the CBN’s proactive measures and oversight will be critical in ensuring that all banks meet the necessary standards, thereby fostering confidence in the financial system.

Details remain unconfirmed regarding the specific banks that are still in the verification process, but the CBN’s ongoing efforts highlight its commitment to a robust banking environment.

Сообщение 30 banks compliant cbn появились сначала на naijanewsreporters.

“Thirty banks have met the new minimum capital requirements applicable to their respective licence authorisations,” stated Hakama Sidi Ali, a key official at the Central Bank of Nigeria (CBN), on March 6, 2026.

This announcement comes as part of a broader recapitalisation programme introduced in 2024, aimed at strengthening the resilience of Nigeria’s banking system. As of the latest update, three banks are still undergoing regulatory verification for compliance.

In total, 33 banks have raised additional capital through various means, including rights issues, initial public offerings (IPOs), and private placements. This effort is seen as a critical step in ensuring that the banking sector remains robust and capable of withstanding economic fluctuations.

The deadline for banks to meet the new capital requirements is set for March 31, 2026. The CBN has emphasized the importance of this recapitalisation exercise, which is regarded as one of the most significant regulatory reforms in Nigeria’s banking sector since the 2004 consolidation exercise.

Hakama Sidi Ali further noted, “The recapitalisation exercise is progressing steadily,” indicating a positive outlook for the ongoing efforts within the banking sector.

Moreover, the CBN has reassured stakeholders that the Nigerian banking system remains stable and sound, despite the ongoing changes. The regulatory body plans to maintain close supervisory engagement with regulated institutions throughout the recapitalisation process.

As the March 31 deadline approaches, the focus will remain on ensuring that all banks meet the necessary requirements to foster a stable financial environment in Nigeria.

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