Nigerian Banks Meet CBN's Capital Requirements Ahead of Deadline

Olayemi Cardoso, Governor of the CBN, announced that at least 27 Nigerian banks have raised their capital ahead of the March 2026 deadline set by the Central Bank. 16 banks have already met or exceeded the new capital requirements, with some hitting thresholds of N500 billion for international banks, N200 billion for national banks, and lower amounts for regional and non-interest banks. Key banks like Stanbic IBTC, Wema Bank, Providus Bank, and others have successfully met the capital threshold.

Union Bank Nigeria has formally ended its existence as a separate entity following CBN approval of its merger.