33 Banks Raise Fresh Capital As Recapitalisation Gains Momentum — CBN

The Central Bank of Nigeria (CBN) has announced that Nigeria’s banking sector recapitalisation programme is gathering momentum, with 33 banks already raising additional capital as part of efforts to strengthen the resilience and long-term capacity of the financial system.

In a statement issued on Friday by the apex bank, the CBN said the recapitalisation initiative, introduced in 2024, is aimed at enhancing the stability of the banking system and positioning financial institutions to better support Nigeria’s economic development.

According to the statement, as of March 6, 2026, a total of 30 banks have already met the new minimum capital requirements applicable to their respective licence categories.

The regulator disclosed that 33 banks across the industry have successfully raised fresh capital through a combination of rights issues, initial public offerings (IPOs), and private placements as part of the recapitalisation programme.

The apex bank explained that the capital positions of the remaining institutions are currently undergoing routine verification by the regulator ahead of final confirmation of compliance within the timeline set for the exercise.

“The recapitalisation exercise is progressing steadily,” the CBN said, noting that the programme is designed to further strengthen the financial system and improve the capacity of banks to support households, businesses, and broader economic growth.

The bank also reassured the public that Nigeria’s banking system remains stable and sound, adding that the recapitalisation programme will further enhance the sector’s ability to withstand economic shocks and support sustainable development.

The CBN said it will continue to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential guidelines and capital requirements.

Under the recapitalisation framework, the CBN has set new minimum capital thresholds of N500bn for commercial banks with international authorisation, N200bn for those with national authorisation, and N50bn for regional commercial banks.

Merchant banks are required to maintain a minimum capital base of N50bn, while non-interest banks must hold N20bn and N10bn for national and regional licences respectively.

The recapitalisation programme forms part of broader reforms aimed at strengthening the resilience of Nigeria’s banking system, enhancing its capacity to support economic growth, and positioning the sector to absorb future shocks.