CBN Confirms 14 Banks Meet Recapitalization Target Ahead of Deadline: Full List Revealed

The Central Bank of Nigeria (CBN) has confirmed that 14 banks have met the recapitalization target ahead of the March 31, 2026 deadline. Governor of CBN, Olayemi Cardoso, revealed this during the Monetary Policy Committee meeting.

The financial sector is reported to be resilient, with banks meeting the new capital requirement, some raising funds through various means including share capital. The CBN raised the minimum capital requirement for banks with international licenses to N500 billion.

This move aims to enhance transparency, risk management, and financial stability in the banking sector. The successful recapitalization of these banks is crucial for the overall health and stability of the Nigerian financial system.