ABUJA – Nigeria’s banking sector has emerged stronger following the successful completion of the Central Bank of Nigeria’s (CBN) two-year recapitalisation programme, with all 33 banks meeting the revised minimum capital requirements, the apex bank announced on Wednesday.
According to a statement jointly signed by Dr Olubukola Akinwunmi, Director of Banking Supervision, and Mrs Hakama Sidi-Ali, Acting Director of Corporate Communications, banks collectively raised N4.65 trillion in new capital, reinforcing the resilience of the financial system and enhancing its capacity to support the nation’s economy.
Under the programme, the CBN set minimum capital requirements based on the scope of each bank’s operations: ₦250 billion for banks with international authorisation, ₦125 billion for national banks, and ₦25 billion for regional banks.
All 33 banks successfully met these thresholds.
The recapitalization, launched in March 2024, attracted strong participation from both domestic and international investors, with 72.55 percent of funds sourced locally and 27.45 percent from abroad, signalling continued confidence in Nigeria’s banking sector.
While a few institutions remain subject to regulatory and judicial processes, the CBN confirmed that all banks continue to operate fully, ensuring uninterrupted access to financial services for individuals and businesses.
The apex bank noted that the initiative strengthened Capital Adequacy Ratios (CAR) above international Basel benchmarks, improved asset quality, and reinforced balance sheet transparency. The programme also positions the sector to mobilise savings, support lending, and withstand domestic and global economic shocks.
CBN Governor Mr Olayemi Cardoso described the achievement as a milestone for the Nigerian banking system, noting that the strengthened capital base enhances financial system resilience and supports sustainable economic growth.
“The successful completion of the programme demonstrates our commitment to a stable, transparent, and robust banking sector,” he added.
