The Central Bank of Nigeria (CBN) has announced the successful conclusion of its banking sector recapitalisation programme, with Nigerian banks raising a total of ₦4.65 trillion in fresh capital over 24 months.
In a press statement issued on April 1, the apex bank said the exercise, which commenced in March 2024, has significantly strengthened the resilience of the financial system and enhanced banks’ capacity to support economic growth.
According to the CBN, the programme attracted strong participation from both domestic and international investors, with 72.55 per cent of the capital sourced locally and 27.45 per cent from foreign markets—an indication of sustained investor confidence in Nigeria’s banking sector.
CBN Governor, Olayemi Cardoso, said the recapitalisation had reinforced the capital base of banks, positioning the financial system to better withstand both domestic and external shocks.
“The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth,” Cardoso said.
The apex bank disclosed that 33 banks have met the revised minimum capital requirements set under the programme, while a few others remain under ongoing regulatory and judicial review processes. It, however, ensured that all banks remain fully operational, with uninterrupted access to services for customers.
The CBN noted that the exercise has improved key prudential indicators, particularly capital adequacy ratios (CAR), which remain above international Basel benchmarks. Minimum CAR thresholds were retained at 10 per cent for regional and national banks, and 15 per cent for banks with international licences.
The regulator also linked the recapitalisation to an orderly exit from regulatory forbearance, which it said has enhanced asset quality, improved balance sheet transparency, and strengthened overall financial system stability.
As part of post-recapitalisation measures, the CBN said it has reinforced its risk-based supervision framework, mandating banks to conduct regular stress testing and maintain adequate capital buffers against potential shocks.
The programme, the bank added, was executed without disruption to banking operations, ensuring continuous service delivery to individuals and businesses throughout the period.
The successful completion of the exercise, according to the CBN, marks a significant milestone in building a stronger, more transparent, and resilient banking system capable of supporting lending, mobilising savings, and sustaining long-term economic stability.
