The Central Bank of Nigeria (CBN) has confirmed that 30 banks have fully met the new minimum capital requirements for their respective licence categories under the ongoing banking sector recapitalisation programme.
The apex bank, in a statement by Mrs. Hakama Sidi Ali, Acting Director of Corporate Communications, disclosed on Friday, also noted that the recapitalisation exercise, launched in 2024, is aimed at strengthening the resilience of Nigeria’s financial system and positioning banks to better support economic growth.
According to the CBN, a total of 33 banks have raised fresh capital through rights issues, initial public offerings (IPOs), and private placements as part of efforts to meet the new capital thresholds. It added that the positions of the remaining banks are currently undergoing routine regulatory verification, with compliance expected within the stipulated timeline.
The regulator reassured the public that Nigeria’s banking sector remains stable and sound, stressing that the recapitalisation programme will further enhance banks’ capacity to serve households, businesses, and support sustainable economic development.
The CBN also pledged to maintain close regulatory supervision to ensure full compliance with capital and other prudential requirements.
