March 06, (THEWILL) — The Central Bank of Nigeria (CBN) has announced significant progress in its 2024 banking sector recapitalisation programme, with thirty (30) banks meeting the new minimum capital requirements for their respective licence categories as at Friday, March 6, 2026.
The CBN highlighted that the recapitalisation initiative is part of its ongoing efforts to strengthen the resilience, stability, and long-term capacity of Nigeria’s financial system to support sustainable economic growth.
A total of thirty-three (33) banks have successfully raised additional capital through rights issues, initial public offerings (IPOs), and private placements, demonstrating proactive compliance with the revised regulatory framework.
“The capital positions of the remaining banks are currently undergoing the CBN’s routine verification process ahead of final confirmation of compliance within the recapitalisation timeline”, stated Hakama Sidi Ali, Acting Director, Corporate Communications at the CBN.
The apex bank reassured stakeholders that the Nigerian banking system remains stable and sound, emphasising that the recapitalisation programme will further enhance the sector’s capacity to support households, businesses, and national development.
Sidi Ali also noted that the CBN will continue close supervisory engagement with all regulated institutions to ensure full adherence to prudential and capital requirements.
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