Thirty Banks Meet CBN's Recapitalization Deadline

The Central Bank of Nigeria (CBN) announced that thirty banks have successfully met the new minimum capital requirements as part of its recapitalization program, which aims to strengthen the resilience of Nigeria's banking sector. This announcement was made on Friday, with the CBN stating that the recapitalization exercise is progressing steadily ahead of the March 31, 2026 deadline.

The banks raised additional capital through rights issues, initial public offerings, and private placements. The total verified approved capital raised stands at ₦4.05 trillion, nearly doubling the ₦2.4 trillion reported in April 2025.

The breakdown shows that 71.67% of the capital was mobilized domestically, while 28.33% came from foreign participation. CBN Governor Olayemi Cardoso emphasized that the banking system remains stable and sound despite ongoing capital adjustments, and the CBN will continue to supervise the institutions closely to ensure compliance with regulatory standards.