The Central Bank of Nigeria (CBN) has announced that 30 banks have successfully met the revised minimum capital requirements under its ongoing banking sector recapitalisation programme.
The update was revealed in a statement released on Friday by the CBN’s Acting Director of Corporate Communications, Hakama Sidi-Ali.
According to the apex bank, the latest figure follows an earlier announcement confirming that 20 banks had already met the threshold ahead of the March 31 deadline, bringing the total capital raised across the sector to ₦4.05 trillion.
The CBN stated that the recapitalisation exercise, launched in 2024, is steadily progressing as financial institutions continue to strengthen their capital bases through various funding methods.
“As of March 6, 2026, the recapitalisation process is moving forward steadily. Thirty banks have met the new capital requirements applicable to their licence categories. In total, 33 banks have raised additional funds through rights issues, initial public offerings (IPOs), and private placements as part of the programme,” the statement noted.
The regulator added that many banks have accessed the capital market and other funding channels to comply with the revised requirements.
While several banks have already achieved the required capital levels, the CBN said the remaining institutions are currently undergoing routine supervisory verification before their compliance is officially confirmed.
The verification process, according to the regulator, is part of its oversight responsibilities to ensure that all funds raised meet regulatory and prudential standards.
The recapitalisation programme, introduced in 2024, forms part of broader reforms aimed at strengthening Nigeria’s financial system and improving banks’ capacity to support economic growth.
Under the policy, banks are required to raise fresh capital based on the category of banking licence they hold.
The CBN explained that the initiative is designed to enhance the resilience and long-term stability of the banking sector, ensuring institutions maintain stronger capital buffers capable of withstanding economic shocks while supporting lending to businesses and households.
Despite the ongoing adjustments in the sector, the apex bank reassured stakeholders that Nigeria’s banking system remains stable and sound.
The CBN also pledged to maintain close regulatory oversight throughout the recapitalisation process.
