14 Banks Scale CBN Recapitalisation Target as Deadline Nears

The Central Bank of Nigeria (CBN) has announced that 14 banks have successfully met its recapitalisation requirements, a significant milestone in the apex bank’s drive to strengthen the Nigerian financial system ahead of the March 31, 2026 deadline.

The disclosure was made by the CBN Governor, Olayemi Cardoso, following the 302nd Monetary Policy Committee (MPC) meeting in Abuja. He noted that the development underscores the resilience of Nigerian banks and their commitment to sustaining investor confidence, financial stability, and economic growth.

Strengthening the Financial System

The recapitalisation directive, introduced earlier this year, mandates commercial banks with international licences to raise their capital base to ₦500 billion, national banks to ₦200 billion, and regional banks to ₦50 billion. Similarly, merchant banks are required to maintain a minimum of ₦50 billion, while non-interest banks must meet ₦20 billion (national) and ₦10 billion (regional) respectively.

According to Governor Cardoso, the exercise is central to the CBN’s vision of positioning the banking sector to play a more pivotal role in Nigeria’s ambition of building a $1 trillion economy within the coming decade.

The 14 Fully Recapitalised Banks

Media reports indicate that the following banks have successfully met the recapitalisation target so far:

1. Access Holdings (Access Bank)
2. Zenith Bank
3. Guaranty Trust Holding Company (GTCO/GTBank)
4. Ecobank Nigeria
5. Stanbic IBTC
6. Wema Bank
7. Providus Bank
8. Globus Bank
9. Premium Trust Bank
10. Greenwich Merchant Bank
11. Jaiz Bank
12. Lotus Bank
13. Fidelity Bank
14. First City Monument Bank (FCMB)

Some industry watchers also suggest that FBN Holdings (FirstBank) may have reached compliance, although the official confirmation from the CBN is still awaited.

Policy Adjustments and Market Impact

In tandem with the recapitalisation update, the CBN also adjusted key monetary policy indicators. The Monetary Policy Rate (MPR) was lowered from 27.5% to 27%, while the Cash Reserve Ratio (CRR) for commercial banks was reduced to 45%. Additionally, a 75% CRR was introduced on non-TSA public sector deposits, aimed at tightening liquidity management in the system.

Analysts note that these policy changes, combined with the recapitalisation drive, will provide Nigerian banks with stronger shock-absorbing capacity, enabling them to expand credit, deepen financial inclusion, and compete more effectively with global players.

Analysts React

Financial experts say the recapitalisation success of 14 banks reflects not only the sector’s resilience but also the ability of banks to raise fresh equity through rights issues, public offerings, mergers, and strategic investments.

According to Lagos-based financial analyst, Dr. Tunde Adebayo, “This is a defining moment for Nigeria’s banking industry. Meeting the CBN’s capital threshold is not just about regulatory compliance—it is about equipping banks with the financial muscle to finance big-ticket projects, support SMEs, and drive economic transformation.”

He added that the recapitalisation would reassure foreign investors of the sector’s stability, especially in light of Nigeria’s currency reforms and capital market liberalisation.

What Next?

With 14 banks already meeting the requirements, the focus now shifts to the remaining lenders, who are expected to intensify efforts through mergers, acquisitions, and fresh capital injections to beat the March 2026 deadline.

The CBN has assured that it will continue to monitor progress closely, offering guidance where necessary while maintaining that the recapitalisation policy remains non-negotiable.

The Central Bank of Nigeria (CBN) has confirmed that 14 banks have fully met its recapitalisation requirements ahead of the March 2026 deadline, strengthening the sector’s resilience and positioning Nigerian banks to support the country’s $1 trillion economy ambition.