The Central Bank of Nigeria (CBN) has announced the successful conclusion of its bank recapitalisation programme, confirming that 33 banks have met the revised minimum capital requirements.
In a statement released on Wednesday, the apex bank revealed that the exercise, which began in March 2024, has now been completed after a 24-month implementation period aimed at strengthening the resilience of Nigeria’s financial system.
According to the CBN, Nigerian banks collectively raised ₦4.65 trillion during the recapitalisation process, with 72.55% sourced locally and 27.45% from international investors—a sign of sustained confidence in the country’s banking sector.
CBN Governor Olayemi Cardoso stated that the initiative has significantly boosted the capital base of banks, positioning them to better support economic growth and withstand both domestic and global financial shocks.
The apex bank also noted that:
- Capital Adequacy Ratios (CAR) across the sector remain above global Basel benchmarks.
- Minimum CAR thresholds are 10% for regional and national banks and 15% for international banks.
- Asset quality and balance sheet transparency have improved following the exercise.
While 33 banks have fully complied, a few institutions are still undergoing regulatory and legal processes. However, the CBN assured that all banks remain operational, ensuring uninterrupted banking services for customers.
To sustain the gains, the CBN has strengthened its risk-based capital framework, requiring banks to conduct regular stress testing and maintain adequate capital buffers.
The recapitalisation marks a major step in reinforcing Nigeria’s financial stability and enhancing the banking sector’s ability to drive economic development.
