Nineteen Nigerian banks have met the Central Bank of Nigeria’s (CBN) revised minimum capital requirements ahead of the March 31, 2026 deadline, signalling early compliance with the regulator’s ongoing banking sector recapitalisation programme.
According to data from market trackers indicate that the affected institutions had achieved the required capital thresholds as of early January, putting them in a strong position as the deadline approaches.
The llist of the banks
The banks that have met the targets include leading lenders with international authorisation such as Access Bank, Fidelity Bank, First Bank of Nigeria, Guaranty Trust Holding Company (GTCO), United Bank for Africa (UBA) and Zenith Bank.
Several national and regional banks have also complied with the new requirements. These include Citibank Nigeria, Ecobank Nigeria, Globus Bank, Stanbic IBTC, Sterling Bank, Wema Bank, PremiumTrust Bank and Providus Bank.
In addition, non-interest lenders Jaiz Bank and Lotus Bank have attained their respective capital benchmarks, alongside merchant banks FSDH Merchant Bank, Greenwich Merchant Bank and Nova Merchant Bank.
The recapitalisation exercise, unveiled by the CBN in March 2024, is aimed at strengthening the financial system, improving banks’ capacity to absorb shocks, and enhancing their ability to support economic growth.
Under the policy, banks with international licences are required to maintain a minimum capital base of ₦500 billion, national banks ₦200 billion, merchant banks ₦50 billion, while non-interest banks must meet capital requirements ranging between ₦10 billion and ₦20 billion, depending on their licence category.
While the early compliance by 19 institutions reflects strong investor confidence and proactive capital-raising efforts, a number of banks are still working to meet the new thresholds. Industry analysts note that these banks may resort to rights issues, private placements, mergers or other strategic options to comply before the deadline.
The CBN has maintained that it will enforce the recapitalisation policy strictly, underscoring its commitment to a more resilient, stable and competitive banking sector.
