Eight Nigerian banks meet CBN’s new capital requirement ahead of 2026 deadline

At least eight commercial banks in Nigeria have met the new capital base requirements set by the Central Bank of Nigeria (CBN), well ahead of the March 31, 2026 deadline.

CBN Governor, Olayemi Cardoso, disclosed this while providing an update on the progress of the banking sector recapitalisation exercise. According to him, eight banks have already achieved compliance with the revised capital thresholds, while others are on track to meet the target within the stipulated timeframe.

The CBN had issued a directive in April 2024 requiring banks to strengthen their capital bases within a 24-month window ending March 31, 2026. Under the new guidelines, banks operating with international licences must raise their minimum capital to ₦500 billion, national banks to ₦200 billion, and regional banks to ₦50 billion.

Cardoso, however, did not reveal the names of the banks that have fulfilled the requirement so far.

The recapitalisation initiative is part of CBN’s broader strategy to enhance the resilience, competitiveness, and lending capacity of Nigeria’s financial institutions.

Further updates are expected as more banks work toward meeting the regulatory deadline.