The Central Bank of Nigeria (CBN) has announced that 33 out of 38 banks in the country have successfully met the revised minimum capital requirements under its recapitalisation programme aimed at strengthening the nation’s financial system.
In a statement issued on Wednesday, the apex bank said the programme, which began in March 2024, has been completed after a 24-month implementation period, marking a significant milestone in efforts to reinforce the resilience of Nigeria’s banking sector.
The statement, signed by Hakama Sidi-Ali and Olubukola Akinwunmi, revealed that banks collectively raised about ₦4.65 trillion during the exercise.
According to the CBN, the recapitalisation drive attracted strong participation from investors, with 72.55 per cent of the funds sourced domestically and 27.45 per cent coming from international markets—an indication of sustained confidence in Nigeria’s financial system.
The CBN Governor, Olayemi Cardoso, said the initiative has significantly strengthened the capital base of banks, positioning them to better support economic growth and withstand both local and global financial shocks.
“The recapitalisation programme has reinforced the resilience of the financial system and ensured it is well-positioned to support economic growth,” Cardoso stated.
While the majority of banks met the new thresholds, the regulator noted that a few institutions are still undergoing regulatory and judicial processes, which are being handled within established supervisory frameworks.
Despite this, the apex bank reassured the public that all banks remain fully operational, with no disruption to services.
The CBN also highlighted improvements in key financial indicators, noting that capital adequacy ratios across the sector remain above international benchmarks set under the Bank for International Settlements (Basel standards).
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Minimum capital adequacy thresholds, it said, remain at 10 per cent for regional and national banks, and 15 per cent for banks with international authorisation.
Beyond capital strengthening, the regulator said the programme has improved asset quality and enhanced transparency in bank balance sheets, contributing to overall financial stability.
To sustain these gains, the CBN disclosed that it has intensified its risk-based supervision, requiring banks to conduct regular stress testing and maintain adequate capital buffers, while also reviewing prudential guidelines to improve governance and risk management.
For many Nigerians, the development signals a more stable banking environment, with stronger institutions better equipped to safeguard deposits, support businesses, and drive economic activities.
The apex bank reiterated its commitment to maintaining a transparent and resilient financial system, aimed at boosting confidence among depositors, investors, and the broader public.