CBN recapitalization drive will strengthen economy – CIBN President
By Seun Ibiyemi
The President of the Chartered Institute of Bankers of Nigeria (CIBN), Professor Pius Deji Olanrewaju, has declared strong support for the Central Bank of Nigeria’s (CBN) recapitalization directive, stating that it is a necessary step toward building a resilient banking sector capable of supporting Nigeria’s economic transformation.
Speaking at the Institute’s 2025 Annual General Meeting (AGM), Prof. Olanrewaju emphasized that recapitalization is not just a regulatory requirement but a strategic move to empower Nigerian banks to finance large-scale national projects, including infrastructure, technology, and industrial development.
“When banks are financially stable, they can support the kind of large transactions our economy desperately needs, roads, factories, digital innovation,” he said. “This will boost productivity and raise the country’s GDP.”
Prof. Olarenwanju acknowledged that while some banks may face challenges meeting the new capital requirements individually, there are viable options such as mergers and strategic partnerships.
“Some banks have already demonstrated capacity by raising the required funds. Others can collaborate. What matters is that we build institutions strong enough to carry Nigeria’s economic ambitions.”
Prof. Olanrewaju stressed that the recapitalization effort is not about exclusion but long-term national stability and growth. He likened the policy to a platform that offers opportunities for collaboration and sustainable expansion within the financial sector.
He further noted that the CIBN remains committed to supporting this transition through initiatives that promote ethical banking practices, professional development, and innovative programs aimed at strengthening the industry’s human capital—especially among the youth.
“While we focus on recapitalization, we must also prepare the youth for the future. Our Gen Z initiative is already positioning a new generation to take up leadership roles in banking,” he added.
He reiterated the importance of inclusive development. Through the Institute’s “Legacy Project,” CIBN is enhancing infrastructure in educational institutions nationwide—projects he described as part of a broader vision to align banking with social impact.
He concluded with a message of optimism, urging banks and stakeholders to see the CBN policy not as a burden but as a catalyst for sustainable financial growth: “Together, we can build a banking system that’s not only capitalized—but also capable, ethical, and globally respected.”
