30 Banks Meet Minimum Capital Requirements As CBN Reports Steady Progress In Recapitalisation, Verifying Others

The Central Bank of Nigeria (CBN) has disclosed that at least 30 Banks have met the new minimum capital requirements as at Friday, 6th March, 2026.

This is even it also said 33 banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of  the programme.

This was disclosed in a statement signed by the CBN  Ag. Director, Corporate Communications, Hakama Sidi-Ali (Mrs).

It would be recalled that the apex bank introduced a recapitalisation programme for the banking sector in 2024 to strengthen the resilience, stability, and long-term capacity of the financial system to support Nigeria’s economic development.

Under the programme which  requires banks to meet new minimum capital requirements  by March 31, 2026,  the minimum thresholds are: ₦500 billion for International licenses, ₦200 billion for National, and ₦50 billion for Regional Commercial Banks, Merchant banks ₦50 billion and Non-interest banks  ₦20 Billion for National and
₦10 billion for regional.

She noted that since the introduction of the policy, banks across the industry have taken steps to strengthen their capital base in line with the revised regulatory requirements.

“As of March 6, 2026, the recapitalisation exercise is progressing steadily. Thirty (30) banks have met the new minimum capital requirements applicable to their respective licence authorisations. In total, thirty-three (33) banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the programme.

“The capital positions of the remaining banks are currently undergoing the Central Bank’s routine verification process ahead of final confirmation of compliance within the recapitalisation timeline.

“The CBN reiterates that the Nigerian banking system remains stable and sound. The recapitalisation programme remains firmly on track and will further strengthen the
capacity of the banking sector to support households, businesses, and sustainable economic growth.

“The Central Bank of Nigeria will continue to maintain close
supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements”, Hakama assured.