The Central Bank of Nigeria (CBN) has reported steady progress in its ongoing banking sector recapitalisation programme, which was introduced in 2024 to strengthen the resilience, stability, and long-term capacity of Nigeria’s financial system.
As of March 6, 2026, 30 banks have met the new minimum capital requirements for their respective licences, while a total of 33 banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements under the programme.
The update was issued by Hakama Sidi Ali, Acting Director of Corporate Communications at the CBN.
The CBN stated that the capital positions of the remaining banks are undergoing routine verification as part of the compliance confirmation process within the recapitalisation timeline.
The apex bank reassured the public that the Nigerian banking system remains stable and sound, adding that the recapitalisation initiative will further enhance the sector’s capacity to support households, businesses, and sustainable economic growth.
The CBN also confirmed that it will maintain close supervisory engagement with all regulated institutions to ensure adherence to prudential and capital requirements.
