BY NGOZI ONYEAKUSI

CBN Governor, Olayemi Cardoso

The Central Bank of Nigeria (CBN) introduced a recapitalisation programme for the
banking sector in 2024 to strengthen the resilience, stability, and long-term capacity
of the financial system to support Nigeria’s economic development. Since the
introduction of the policy, banks across the industry have taken steps to strengthen
their capital base 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. In total, thirty-three (33) banks have raised additional capital
through rights issues, initial public offerings (IPOs), and private placements as part of
the programme.
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 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. The Central Bank of Nigeria will continue to maintain close
supervisory engagement with regulated institutions to ensure full compliance with
prudential and capital requirements.
Hakama Sidi Ali (Mrs.)
Ag. Director, Corporate Communication