The Governor, Central Bank of Nigeria (CBN), Olayemi Cardoso, on Tuesday, disclosed that eight deposit money banks have already surpassed the new minimum capital requirement under the ongoing recapitalisation exercise. The apex bank also retained all key monetary policy parameters, leaving the Monetary Policy Rate (MPR) unchanged at 27.5 per cent. The Committee also left the asymmetric corridor around the MPR at +500/-100 basis points, kept the Cash Reserve Ratio, CRR, for deposit money banks at 15 per cent, and retained the liquidity ratio at 30 per cent. These come as a member of the CBN Monetary Policy Committee (MPC), Mustapha Akinkunmi, revealed that at least 11 commercial banks exceeded CBN’s regulatory ceiling for non-performing loans (NPLs) as of April 2025. This signals rising credit risk within the financial system. The revelation came from his personal statement published after the 300th MPC meeting held in May. Cardoso made the disclosure of the eight banks recapitalisation target on Tuesday in Abuja during a press briefing after the Monetary Policy Committee (MPC) meeting.

SUN