World Bank and Access Bank CEO Optimistic About Nigeria's Bank Recapitalization Impact on Private Sector Credit Boost

The World Bank Country Director for Nigeria, Matthew Verghis, and Access Bank PLC's Managing Director and CEO, Roosevelt Ogbonna, discussed the potential impact of Nigeria's ongoing bank recapitalization at the 2026 Lago Agusto & Co.'s Economic Roundtable. Verghis highlighted the necessity of recapitalization due to macroeconomic pressures eroding bank capital buffers, hindering economic growth aspirations.

The recapitalization exercise aims to enhance banks' capital base, liquidity, and support for public infrastructure and private sector investments. As of December 2025, 25 out of 38 commercial and merchant banks in Nigeria had met the new capital threshold of mobilizing N2.5 trillion.

Verghis emphasized the importance of raising domestic credit to the private sector, aligning incentives, and reducing interest rates to stimulate real sector growth. The recapitalization is part of broader economic reforms to stabilize the economy, combat inflation, and drive growth towards Nigeria's ambitious goal of becoming a trillion-dollar economy by 2030.