30 banks beat March recapitalisation deadline as others race against time
The Central Bank of Nigeria (CBN) has disclosed that 30 banks have met the new minimum capital requirements introduced under its ongoing banking sector recapitalisation programme.
Conveying this in a statement on Friday, the Acting Director of Corporate Communications at the apex bank, Hakama Sidi-Ali, said several lenders had successfully strengthened their capital base through different fundraising channels, including rights issues, initial public offerings (IPOs) and private placements.
As of March 6, 2026, the recapitalisation exercise is progressing steadily, the CBN said, noting that 30 banks have already met the new minimum capital thresholds applicable to their respective licence categories.
“In total, thirty-three banks have raised additional capital through rights issues, initial public offerings and private placements as part of the programme,” the statement added.
According to the apex bank, the capital positions of the remaining banks are currently undergoing routine verification before final confirmation of compliance within the stipulated timeline for the recapitalisation exercise.
The verification process, it noted, forms part of its supervisory role aimed at ensuring that funds raised by banks align with regulatory standards and prudential requirements.
“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 statement said.
Industry data, however, show that several leading lenders—including Access Bank, Zenith Bank, Guaranty Trust Bank, United Bank for Africa, First Bank of Nigeria, Fidelity Bank, Stanbic IBTC Bank, Wema Bank, First City Monument Bank, and Sterling Bank—are among institutions that have already secured sufficient capital to meet the revised thresholds.
Other lenders, including Citibank Nigeria, Standard Chartered Bank Nigeria, Ecobank Nigeria, PremiumTrust Bank, Providus Bank and Globus Bank, as well as non-interest institutions such as Jaiz Bank, Lotus Bank and Taj Bank, are also reported to have met the requirement.
However, a few lenders, including Unity Bank and Titan Trust Bank, are still finalising capital adjustments or undergoing regulatory verification as the deadline approaches.
The CBN introduced the recapitalisation programme in 2024 as part of efforts to strengthen the resilience, stability and long-term capacity of Nigeria’s banking system to support economic development.
Under the programme, banks were required to raise fresh capital to meet revised minimum thresholds depending on the category of their operating licences.
The apex bank reiterated that the financial system remains stable despite ongoing capital adjustments across the industry.
“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 statement said.
It further assured stakeholders that it would maintain close supervisory engagement with regulated institutions throughout the process.
“The Central Bank of Nigeria will continue to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements.”
