Nigerian Banks Face Closure Over Capital Requirements, Deadline Looms

Several Nigerian banks are at risk of shutdown for failing to meet the Central Bank of Nigeria's (CBN) new capital requirements ahead of the March 2026 deadline. The CBN had set varying minimum capital thresholds for different categories of banks, with some needing to raise substantial equity to comply.

Notable banks like Access Holdings, Stanbic IBTC Holdings, Wema Bank, and Providus Bank have met the requirements, while others like First Bank Holdings and Guaranty Trust Holding Company are still working towards compliance. The deadline pressure has led to increased efforts in capital raising, mergers, and restructuring within the banking sector.