The Central Bank of Nigeria (CBN) has confirmed that 33 out of 38 banks have met the revised minimum capital requirements under its recapitalisation programme, aimed at strengthening the resilience of the nation’s financial system.
In a statement on Wednesday, the apex bank said the programme, which commenced in March 2024, concluded after a 24-month implementation period, with banks raising a total of N4.65 trillion.
“The programme recorded strong participation from both domestic and international investors, with 72.55% of capital sourced locally and 27.45% from international markets, reflecting sustained confidence in the Nigerian banking sector,” the CBN said.
Governor of the CBN, Olayemi Cardoso, said the recapitalisation has reinforced the capital base of Nigerian banks, ensuring the sector is better positioned to support economic growth and withstand both domestic and 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 added.
The apex bank stated that some banks are still undergoing regulatory and judicial processes, but confirmed that all banks remain fully operational with no disruption to banking services.
According to the CBN, the recapitalisation has improved capital adequacy ratios (CAR) across the banking sector, keeping levels above international benchmarks under the Basel standards. Minimum CAR thresholds remain at 10% for regional and national banks and 15% for banks with international authorisation.
“The successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks,” the CBN said, adding that risk-based supervisory frameworks and prudential guidelines will continue to be strengthened.
The apex bank said the recapitalisation, coupled with an orderly exit from regulatory forbearance, has improved asset quality, balance sheet transparency, and overall financial system stability.
