Bank Customers Won’t Lose Deposits Because Of Recapitalisation, CBN Assures

The Central Bank of Nigeria (CBN) has assured Nigerians that the ongoing banking sector recapitalisation exercise will not affect customer deposits, insisting that the financial system remains stable and fully secure.

The apex bank gave the reassurance amid growing public anxiety and misinformation ahead of the March 31, 2026, deadline set for banks to meet new capital requirements.

In a series of advisories issued via its official communication channels, the CBN emphasised that the deadline applies strictly to banks and not to customers, stressing that there is no cause for panic.

“The deadline is a timeline for banks, not customers,” the bank stated, adding that routine banking activities would continue without disruption.

Addressing widespread fears over the safety of deposits, the CBN said all customer funds remain protected, urging Nigerians not to engage in panic withdrawals or close their accounts.

“Your accounts and funds are unaffected. Banking products and services continue as normal,” the bank said, reiterating that recapitalisation is designed to strengthen, not weaken, financial institutions.

The regulator further dismissed claims circulating on social media suggesting that banks could freeze accounts as part of the exercise, describing such reports as false and misleading.

“No, this is false. Banks will not freeze customer accounts. Please ignore unverified social media rumours,” the CBN said.

The recapitalisation programme, according to the apex bank, is a routine regulatory measure aimed at increasing banks’ capital base to enhance resilience, improve risk absorption capacity, and position the sector to better support economic growth.

On concerns that recapitalisation could lead to higher banking charges or reduced access to services, the CBN maintained that there would be no adverse impact on customers.

“Recapitalisation is about strengthening banks, not increasing customer charges,” it stated.

The bank also reassured customers that there would be no changes to daily banking operations, including the use of automated teller machines (ATMs), mobile applications, online platforms, or branch services.

“The Nigerian banking sector is sound, stable, and operating normally. There is no crisis,” the apex bank added.

It further noted that the recapitalisation process is being closely supervised to ensure stability across the system and to prevent any institution from posing systemic risks.

The development comes against the backdrop of heightened public sensitivity to financial sector reforms, with past experiences of bank failures continuing to shape customer perceptions.

To guard against fraud and misinformation, the CBN advised customers to rely only on verified communication channels when seeking information about their banks or the recapitalisation process.

The CBN had announced that 33 banks already raised additional capital as part of efforts to strengthen the resilience and long-term capacity of the financial system.

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.

Under the recapitalisation framework, the CBN had 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 were 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.