CBN Says 33 Banks Meet Recapitalisation Target, N4.66 Trillion Raised from 73% of NigeriansThe Central Bank of Nigeria (CBN) has disclosed that 33 Nigerian banks have successfully met the requirements of its ongoing recapitalisation programme, raising a combined N4.6 trillion in fresh capital.
According to the apex bank, the capital raise reflects strong domestic participation, with approximately 73 percent of the funds sourced from Nigerian investors, while the remaining portion came from foreign investors.
This signals renewed local confidence in the country’s banking sector amid ongoing financial reforms.The recapitalisation exercise, which began in 2024, was designed to strengthen the resilience of Nigerian banks, enhance their capacity to absorb economic shocks, and position them to support long-term economic growth.
The CBN noted that banks raised the capital through multiple channels, including rights issues, private placements, and public offerings.
The regulator also confirmed that the capital positions of participating institutions are undergoing final verification to ensure full compliance with the new requirements.
Under the revised framework, minimum capital thresholds were significantly increased. Commercial banks with international licences are required to maintain N500 billion, national banks N200 billion, and regional banks N50 billion.
Non-interest banks are expected to meet thresholds ranging from N10 billion to N20 billion depending on their licence category.
The apex bank emphasized that the recapitalisation programme is a critical component of broader financial sector reforms aimed at restoring stability, improving governance, and strengthening the banking system’s ability to support businesses, households, and national economic development.
CBN Governor Olayemi Cardoso stated that the progress recorded so far demonstrates the sector’s capacity to adapt to reforms despite prevailing macroeconomic challenges, including inflation pressures and foreign exchange volatility.
The regulator added that the strengthened capital base will enable Nigerian banks to expand regionally, deepen financial intermediation, and contribute more effectively to the country’s ambition of achieving a $1 trillion economy.
The recapitalisation deadline, set for March 31, 2026, marks a significant milestone in Nigeria’s banking sector reform, with the CBN maintaining that the exercise will ultimately enhance investor confidence and ensure long-term financial system stability.
Source: Nairametrics
