30 Banks Meet New Capital Base – CBN

The Central Bank of Nigeria (CBN) says 30 banks have met the revised minimum capital requirements under its ongoing banking sector recapitalisation programme.

CBN disclosed this in a statement on Friday, signed by its Acting Director of Corporate Communications, Hakama Sidi Ali.

The apex bank said the programme, introduced in 2024, was designed to strengthen the resilience, stability, and long-term capacity of the financial system to support Nigeria’s economic development.

It noted that since the policy’s introduction, banks across the industry have taken steps to strengthen their capital bases in line with the revised regulatory requirements.

“As of March 6, 2026, the recapitalisation exercise is progressing steadily. Thirty (30) banks have met the new minimum capital requirements applicable to their respective licence authorisations,” CBN said.

According to the apex bank, 33 banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements since the programme was launched.

CBN added that 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 timeline.

The regulator noted that the Nigerian banking system remains stable and sound and that the exercise is progressing steadily and on schedule.

“The CBN reiterates that the Nigerian banking system remains stable and sound. 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.”