CBN Completes ₦4.65 Trillion Recapitalization Exercise

The Central Bank of Nigeria (CBN) has successfully concluded a recapitalization exercise, raising ₦4.65 trillion (approximately $3.37 billion) to enhance the financial environment in Nigeria. This initiative is part of a broader strategy to support the country's ambition of becoming a $1 trillion economy by 2030, with a deadline for completion set for March 31, 2026.

The recapitalization program established a tiered capital framework requiring commercial banks to raise a minimum of ₦500 billion, regional banks ₦200 billion, and merchant banks ₦50 billion. CBN Governor Yemi Cardoso stated that the program aims to strengthen the capital base of Nigerian banks, ensuring resilience against domestic and external shocks.

The exercise saw significant domestic participation, with local investors contributing 72.55% of the total funds raised. The compliance rate among banks ahead of the deadline was reported at 96%, highlighting the sector's stability and commitment to building a robust financial system.