CBN Recapitalisation Drive Gains Momentum as 30 Nigerian Banks Meet New Capital Threshold

The Central Bank of Nigeria (CBN) has announced significant progress in the ongoing recapitalisation of the country’s banking sector, revealing that 30 banks have already met the revised minimum capital requirements introduced under its 2024 reform programme.
The recapitalisation initiative, launched in 2024, is part of a broader strategy by the apex bank to strengthen the resilience, stability, and long-term capacity of Nigeria’s financial system, thereby supporting sustainable economic development.
In a statement issued by Hakama Sidi Ali, Acting Director of Corporate Communications at the CBN, the apex bank disclosed that the recapitalisation exercise is advancing steadily across the industry as banks respond to the new regulatory benchmarks.
According to the statement, as of March 6, 2026, a total of 30 banks have successfully met the minimum capital thresholds applicable to their respective licence authorisations.
In addition, 33 banks have collectively raised fresh capital through various market-driven instruments, including rights issues, Initial Public Offerings (IPOs), and private placements. These capital-raising efforts form a core part of the regulatory programme designed to reinforce the financial strength of banking institutions operating in Nigeria.
The apex bank explained that the capital positions of the remaining institutions are currently undergoing their routine verification process. This exercise, it said, is necessary to validate the funds raised and ensure full compliance with the revised prudential requirements within the stipulated recapitalisation timeline.
The CBN emphasized that the Nigerian banking sector remains stable and sound, noting that the recapitalization program is firmly on track and will further deepen the sector’s capacity to support households, businesses, and broader economic growth.
The regulator also reaffirmed its commitment to maintaining close supervisory engagement with banks to ensure strict adherence to prudential standards and capital adequacy rules.
Industry analysts say the recapitalisation programme is expected to position Nigerian banks for stronger balance sheets, improved risk absorption capacity, and enhanced ability to finance large-scale economic projects across key sectors of the economy.
As the process continues, market observers believe the reforms could also trigger a new wave of consolidation, strategic partnerships, and increased participation in the capital market as financial institutions adjust their structures to meet the new regulatory framework.
The recapitalisation initiative is widely viewed as a critical pillar in Nigeria’s broader financial sector reforms aimed at strengthening investor confidence and ensuring that the banking system remains robust enough to support the country’s long-term development ambitions.