With just eleven weeks remaining until the Central Bank of Nigeria’s (CBN) recapitalisation deadline, fourteen banks are yet to meet the required minimum capital, As of January 6, 2025, nineteen banks, including Access Bank, Fidelity Bank, First Bank, GTBank (GTCO), UBA, and Zenith Bank, had already complied with the apex bank’s benchmark.
The non-compliant banks include First City Monument Bank (FCMB), Unity Bank, Keystone Bank, Union Bank (Titan), Taj Bank, Standard Chartered Bank, Parallex Bank, SunTrust Bank, FBH Merchant Bank, Rand Merchant Bank, Coronation Merchant Bank, Alternative Bank, and several non-interest banks.
Financial experts have warned that mergers and acquisitions could occur as the March 31 deadline approaches, as banks seek to meet the CBN’s capital requirements.
