34 Nigerian Banks Meet CBN Capital Benchmark Ahead of Deadline
At least 34 banks in Nigeria have successfully met the recapitalisation requirements set by the Central Bank of Nigeria (CBN), marking a major milestone in the ongoing reform of the country’s banking sector.
The recapitalisation exercise, introduced in 2024, requires banks to strengthen their capital base in line with new thresholds aimed at boosting financial stability and supporting economic growth. Under the policy, international banks are expected to maintain a minimum capital base of ₦500 billion, national banks ₦200 billion, and regional banks ₦50 billion.
With the March 31, 2026 deadline approaching, most financial institutions have raised fresh capital through rights issues, public offers, private placements, and strategic mergers. This has triggered increased capital mobilisation across the industry, reflecting growing investor confidence.
Data from regulators show that the banks collectively raised trillions of naira, placing the sector on a stronger footing to absorb economic shocks and finance large-scale projects. The exercise is also expected to enhance the resilience of Nigeria’s financial system and improve its capacity to support businesses and households.
Although many banks have crossed the required thresholds, a few are still undergoing final verification of their capital positions by the apex bank. Regulators remain optimistic that all compliant institutions will meet the deadline, while options such as mergers, acquisitions, or licence downgrades are available for those unable to meet higher capital categories.
Industry experts believe the recapitalisation drive will ultimately produce a stronger, more competitive banking landscape capable of supporting Nigeria’s long-term economic growth.
