The Central Bank of Nigeria, CBN, has reassured the banking community that the nation’s banking sector remains stable, strong, and resilient.
The apex bank noted that since the introduction of the recapitalisation policy, banks across the industry have been taking measures to strengthen their capital base in line with the updated regulatory requirements.
In 2024, the CBN launched a recapitalisation programme for the banking sector, aimed at enhancing the resilience, stability, and long-term capacity of the financial system to effectively support Nigeria’s economic growth.
According to the bank, “the recapitalisation process is advancing steadily, with 30 banks having met the new minimum capital requirements for their respective licence categories as of March 6, 2026.”
It said; “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.
“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.”
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The CBN further stated that 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 Central Bank of Nigeria then assured all stakeholders that it would continue to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements.