CBN Ends Recapitalisation Drive, Banks Raise ₦4.65 Trillion

The Central Bank of Nigeria (CBN) has formally concluded its landmark banking sector recapitalisation programme, announcing that Nigerian financial institutions collectively mobilised ₦4.65 trillion in fresh capital over a 24-month period.
The ambitious exercise, launched in March 2024, represents one of the most significant regulatory interventions in Nigeria’s financial sector in recent years, aimed at reinforcing the strength, resilience, and global competitiveness of the country’s banking industry.
Data released by the apex bank showed that the recapitalisation drive attracted strong investor participation, both locally and internationally. Domestic investors accounted for 72.55 percent of the total capital raised, while foreign investors contributed 27.45 percent—an indication of sustained confidence in Nigeria’s financial system despite global economic uncertainties.
Governor Olayemi Cardoso described the programme as a critical milestone in the evolution of Nigeria’s banking sector. According to him, the successful capital raise has significantly enhanced the capacity of banks to support economic expansion, deepen financial intermediation, and withstand external shocks.
“The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth,” Cardoso stated.
Stronger Banks, Improved Financial Health
The CBN disclosed that 33 banks have successfully met the revised minimum capital thresholds stipulated under the programme. While a limited number of institutions are still undergoing regulatory and judicial processes, the regulator assured that such cases are being managed within established supervisory and legal frameworks.
Importantly, all banks remain fully operational, with no disruption to services recorded throughout the recapitalisation period—a development analysts say has helped sustain public confidence in the banking system.
The statement was jointly signed by Dr Olubukola A. Akinwunmi,  Director, Banking Supervision and Hakama Sidi Ali (Mrs.) Acting Director, Corporate Communications on April 1, 2026 disclosed The programme has also led to a notable improvement in capital adequacy ratios (CAR) across the sector, with Nigerian banks maintaining levels above international Basel benchmarks. Current minimum CAR requirements remain at 10 percent for regional and national banks, and 15 percent for banks with international licences.
Industry observers note that stronger capital buffers are expected to enhance banks’ ability to absorb shocks, expand lending to critical sectors, and support Nigeria’s broader economic recovery and growth ambitions.
Exit from Forbearance, Boost to Transparency
A key feature of the recapitalisation exercise was its alignment with the CBN’s orderly exit from regulatory forbearance. This move has resulted in improved asset quality, increased transparency in bank balance sheets, and a more accurate reflection of financial health across the sector.
Experts say this transition is crucial for restoring market discipline and ensuring that Nigerian banks operate under stricter risk management and reporting standards.
Enhanced Supervision and Risk Management
To sustain the gains achieved, the apex bank has strengthened its prudential oversight framework, introducing more rigorous risk-based supervision measures. Banks are now required to conduct periodic stress testing under various economic scenarios and maintain adequate capital buffers to mitigate potential risks.
The CBN also emphasized that its prudential guidelines and supervisory mechanisms will be subject to continuous review, ensuring alignment with global best practices in corporate governance and financial regulation.
No Disruption, Greater Confidence
Despite the scale of the recapitalisation effort, the process was executed seamlessly without interrupting banking operations. Customers across Nigeria continued to access financial services without hindrance, reinforcing trust in the system.
Analysts say the successful completion of the programme positions the Nigerian banking sector for a new phase of growth—one defined by stronger balance sheets, improved governance, and increased capacity to finance large-scale investments.
Outlook for the Financial System
With the recapitalisation exercise now complete, the CBN reiterated its commitment to maintaining a stable, transparent, and resilient financial system. The regulator noted that the strengthened banking sector will play a pivotal role in mobilising savings, supporting businesses, and driving sustainable economic development.
The Central Bank of Nigeria concludes its 24-month recapitalisation programme, with banks raising ₦4.65 trillion to boost financial stability, investor confidence, and economic growth capacity.
The statement stresses that CBN’s bank recapitalisation drive final as banks raise ₦4.65 trillion, strengthening capital adequacy, resilience, and the financial system’s ability to support economic growth.