CBN Unveils New Capital Requirements for March 2024

The Central Bank of Nigeria (CBN) has unveiled new minimum capital requirements set to take effect in March 2024, prompting the financial community to address compliance deadlines. The Nigerian capital market has successfully mobilized ₦4.65 trillion in fresh equity capital over the past 24 months, with 36 banks achieving full compliance with the new thresholds.

This initiative has lifted the Nigerian Exchange Group (NGX) share index to a record high of 201,287 points as of the first quarter of 2026. The CBN's circular outlines various compliance pathways, including public offers, rights issues, and mergers.

Notably, domestic investors accounted for 72.55% of the total capital raised, highlighting the market's depth and the significant role of retail participation. The foreign capital inflow into the Nigerian banking sector rose by 93.25% year-on-year, amounting to $13.53 billion in 2025.

The NGX share index also saw a dramatic increase, closing at 155,613 points in 2025, marking a 51.2% gain.