CBN Confirms 30 Banks Meet New Capital Requirements

The Central Bank of Nigeria (CBN) announced that 30 banks have successfully met the new minimum capital thresholds required for their licenses as of March 6, 2026. This initiative is part of an ongoing recapitalization program aimed at enhancing the stability and resilience of the banking sector.

According to Hakama Sidi Ali, the CBN's Director of Corporate Communications, a total of 33 banks have raised additional capital through public offers and private placements. The CBN's recapitalization program, which is set to commence on April 1, 2024, and conclude by March 31, 2026, is designed to ensure that banks can withstand domestic and external shocks.

The minimum capital requirements are set at N500 billion for commercial banks, N200 billion for international banks, and N50 billion for regional banks. Olayemi Cardoso, leading the CBN, emphasized the importance of maintaining close supervision to ensure compliance with these new capital requirements.