The Central Bank of Nigeria (CBN) has announced that 30 banks have successfully met the new minimum capital requirements introduced under its ongoing banking sector recapitalisation programme, while three others are currently undergoing regulatory verification.
The apex bank disclosed this in a statement issued by its Acting Director of Corporate Communications, Hakama Sidi-Ali, noting that the recapitalisation exercise, launched in 2024, is progressing steadily as lenders strengthen their capital bases ahead of the March 31, 2026, deadline.
According to the CBN, 33 banks have raised fresh capital through various funding channels, including rights issues, initial public offerings (IPOs), and private placements. Of these, 30 banks have already met the required capital thresholds applicable to their licence categories.
The regulator explained that the capital positions of the remaining three banks are going through routine supervisory verification before their compliance can be formally confirmed. The verification process is part of the central bank’s regulatory oversight to ensure that the funds raised by financial institutions meet prudential standards and regulatory requirements.
The recapitalisation policy, introduced by the CBN in March 2024, requires banks to significantly increase their minimum paid-up capital in line with the type of banking licence they hold. For instance, international commercial banks are required to have a minimum capital base of ₦500 billion, while national and regional banks must meet lower thresholds depending on their operational scope.
Earlier in February 2026, the CBN reported that only 20 banks had met the capital requirement, with the banking industry raising about ₦4.05 trillion at the time. The latest update indicates that additional banks have successfully closed the capital gap in the weeks leading up to the compliance deadline.
The CBN reiterated that Nigeria’s banking system remains stable and sound, adding that the recapitalisation programme is designed to strengthen the resilience of the sector, enhance financial stability, and improve banks’ capacity to support businesses, households, and long-term economic growth.
