33 Banks meet capital requirements as CBN concludes recapitalisation exercise

...as economy gains N4.65trn fresh capital injection

By Damilare Adeleye

The Central Bank of Nigeria has officially concluded its recapitalisation exercise, with 33 of the country's 38 banks successfully meeting the new minimum capital requirements.

According to a joint statement from the Bank's Directors, the 24-month initiative generated a total of N4.65 trillion in new capital.

This funding was sourced through a mix of domestic and international investment, with over 72% coming from local investors.

The CBN Governor, Olayemi Cardoso emphasized that this strengthened capital base ensures the financial system is better equipped to support national economic growth and weather potential global shocks.

While 33 banks have fully complied, the remaining five institutions are currently undergoing specific regulatory or judicial reviews.

Despite these ongoing processes, the apex bank reassured the public that all banks remain fully operational and that there will be no disruption to customer services.

To ensure long-term stability, the regulator has maintained the Capital Adequacy Ratio thresholds at 10% for national banks and 15% for those with international licenses.

Moving forward, the CBN intends to utilize a more rigorous risk-based supervisory framework, including mandatory stress testing, to maintain the transparency and resilience achieved during this period.