The Central Bank of Nigeria has confirmed that Nigerian banks raised a total of ₦4.65 trillion in fresh capital over a two-year recapitalisation exercise, with 33 lenders meeting the revised minimum capital requirements under the programme. The exercise, launched in March 2024, concluded successfully on March 31, 2026, marking a significant milestone for the stability and resilience of the nation’s banking sector.
In a joint statement, Olubukola Akinwunmi, Director of Banking Supervision, and Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, said the programme recorded strong participation from both domestic and international investors. “72.55 percent of the capital was sourced locally, while 27.45 percent came from international markets, reflecting sustained confidence in the Nigerian banking sector,” the statement noted.
Commenting on the outcome, CBN Governor Olayemi Cardoso said, “The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks.”
The apex bank confirmed that while 33 banks met the new minimum thresholds, a limited number of institutions remain subject to ongoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks. Despite this, all banks remain fully operational, ensuring uninterrupted access to banking services for individuals and businesses.
The CBN highlighted that the programme strengthened Capital Adequacy Ratios, with sector-wide levels now above international Basel benchmarks.
Minimum CAR thresholds remain at 10 percent for regional and national banks and 15 percent for banks with international authorisation. The exercise, conducted alongside a phased exit from regulatory forbearance, also improved asset quality, balance sheet transparency, and overall financial system stability.
To sustain these gains, the central bank has reinforced its risk-based supervision framework, requiring banks to conduct periodic stress tests and maintain appropriate capital buffers against potential shocks. Prudential guidelines and supervisory tools are reviewed regularly to enhance governance, risk management, and sector resilience.
Analysts note that the successful recapitalisation positions Nigerian banks to mobilise savings, expand credit, and support economic activity, particularly in the context of high interest rates, currency volatility, and President Bola Tinubu’s drive for a ₦1 trillion economy.
“The successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks,” the CBN statement concluded, reaffirming its commitment to a stable, transparent, and resilient financial system.
