The Central Bank of Nigeria (CBN) has announced that 30 banks have met the new minimum capital requirements ahead of the March 31, 2026 recapitalisation deadline.
CBN spokesperson Hakama Ali-Sidi disclosed this in a statement on Friday, noting that the recapitalisation exercise is progressing steadily. According to the apex bank, a total of 33 banks have raised additional funds through rights issues, initial public offerings (IPOs) and private placements.
The update indicates that while 30 banks have fully met the required capital thresholds for their respective licences, the capital positions of three others are currently undergoing routine verification before final confirmation of compliance.
The CBN added that it will continue close supervisory engagement with regulated institutions to ensure they meet prudential and capital requirements within the recapitalisation timeline.
Earlier, CBN Governor Olayemi Cardoso revealed during the 304th Monetary Policy Committee briefing that 20 of the 33 banks had met the requirement as of February 24. The new figures show that 10 additional banks have achieved compliance within the last two weeks following the recapitalisation policy introduced in March 2024.
