April 01, (THEWILL) — The Central Bank of Nigeria (CBN) has announced the conclusion of its banking sector recapitalisation programme, revealing that Nigerian banks collectively raised ₦4.65 trillion in new capital over the 24-month exercise aimed at strengthening the country’s financial system.
The programme, launched in March 2024, attracted strong participation from both domestic and foreign investors. According to the apex bank, 72.55 percent of the capital was sourced locally, while 27.45 percent came from international markets, reflecting sustained investor confidence in Nigeria’s banking sector.
CBN Governor, Olayemi Cardoso, said the recapitalisation has significantly reinforced the sector’s financial strength and positioned banks to better support economic growth.
“The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks”, Cardoso stated.
The CBN disclosed that 33 banks have met the revised minimum capital requirements introduced under the programme. A small number of institutions remain subject to ongoing regulatory and judicial processes, which are being handled through established supervisory and legal channels.
The exercise has also strengthened capital adequacy ratios across the sector, with banks maintaining levels above international Basel standards. Minimum thresholds remain 10 percent for regional and national banks and 15 percent for internationally authorised banks.
According to the CBN, the recapitalisation implemented alongside the gradual exit from regulatory forbearance has improved asset quality and balance sheet transparency.
The apex bank noted that banking operations remained uninterrupted throughout the process, ensuring continued access to financial services for individuals and businesses.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
