CBN concludes recapitalisation, 33 banks meet capital threshold
By Damilare Adeleye
The Central Bank of Nigeria (CBN) has announced the conclusion of its banking sector recapitalisation exercise, revealing that 33 out of 38 banks have met the revised minimum capital requirements.
In a statement issued on Wednesday, the apex bank said the programme, which began in March 2024, has been completed following a 24-month implementation period.
The statement, jointly signed by the Acting Director of Corporate Communications, Hakama Sidi-Ali, and the Director of Banking Supervision, Olubukola Akinwunmi, disclosed that banks raised a total of ₦4.65 trillion under the recapitalisation programme.
According to the CBN, the exercise recorded strong participation from both domestic and international investors, with 72.55 percent of the capital sourced locally and 27.45 percent from international markets—an indication of sustained confidence in Nigeria’s banking sector.
Speaking on the development, the Governor of the apex bank, Olayemi Cardoso, said the initiative has strengthened the financial system and positioned banks to better support economic growth.
“The recapitalisation programme has reinforced the capital base of Nigerian banks, improved resilience, and ensured the sector is well-positioned to withstand both domestic and external shocks,” he said.
The CBN noted that a few banks are still undergoing regulatory and judicial processes.
“The CBN confirms that 33 banks have met the revised minimum capital requirements. A limited number of institutions remain subject to ongoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks,” the statement added.
The regulator also assured that all banks remain fully operational, with no disruption to banking services.
It explained that the recapitalisation has strengthened capital adequacy ratios (CAR) across the sector, with levels remaining above international benchmarks set under global banking standards.
“Minimum CAR thresholds remain at 10 percent for regional and national banks and 15 percent for banks with international authorization,” the apex bank stated.
The CBN further noted that the programme, alongside an orderly exit from regulatory forbearance, has improved asset quality, enhanced balance sheet transparency, and reinforced overall financial system stability.
To sustain these gains, the apex bank said it has strengthened its risk-based supervisory framework, requiring banks to conduct regular stress testing and maintain adequate capital buffers.
It added that prudential guidelines and supervisory processes will continue to be reviewed periodically to support improved governance, risk management, and sector stability.
“The successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand both domestic and global shocks,” the CBN said.
The regulator also reaffirmed its commitment to maintaining a stable and transparent financial system that inspires confidence among depositors, investors, and the wider public.