Nigerian Banks Raise N4.05 Trillion to Meet Capital Requirements

The Central Bank of Nigeria (CBN) has confirmed that 20 banks have successfully raised a total of N4.05 trillion to meet the new minimum capital requirements ahead of the March 31, 2026 deadline. This announcement was made by CBN Governor Olayemi Cardoso at the end of the 304th Monetary Policy Committee (MPC) meeting held in Abuja on February 24, 2026.

Out of 33 banks, 20 have already met the regulatory threshold, while 13 are still working towards compliance. Cardoso noted the resilience of the banking sector and highlighted that the N4.05 trillion raised by the compliant banks includes N2.90 trillion, which represents 71.6% sourced from domestic capital, reflecting broad investor confidence in Nigeria's banking sector.

The CBN aims to strengthen the capital base of banks to enhance financial system resilience and improve their capacity to support sustainable economic growth and price stability. The MPC meeting also acknowledged the improvement in coordination between fiscal and monetary authorities, contributing to Nigeria's recent sovereign credit rating upgrade.