The Central Bank of Nigeria (CBN) has reported steady progress in the ongoing recapitalisation of the country’s banking sector, a key reform introduced in 2024 to strengthen the resilience, stability, and long-term capacity of the financial system to support Nigeria’s economic growth.
Since the rollout of the policy, banks across the industry have been taking steps to boost their capital base in line with the revised regulatory requirements.
As of March 6, 2026, the apex bank disclosed that the exercise is advancing steadily, with 30 banks already meeting the new minimum capital thresholds applicable to their respective licence categories.
Overall, 33 banks have successfully raised fresh capital through various channels, including rights issues, initial public offerings (IPOs), and private placements, as part of the recapitalisation programme.
In a statement signed by the CBN’s Director of Corporate Communications, Hakama Sidi-Ali, the bank noted that the capital positions of the remaining institutions are currently undergoing its routine verification process ahead of the final confirmation of compliance within the stipulated timeline.
The CBN reaffirmed that Nigeria’s banking system remains stable and sound, emphasising that the recapitalisation initiative is firmly on track and expected to further strengthen the sector’s ability to support households, businesses, and sustainable economic growth.
The apex bank also assured that it will continue close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements.