The Central Bank of Nigeria (CBN) has reported that 30 banks have met the new minimum capital requirements applicable to their respective licence authorisations, while 33 banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the ongoing recapitalization programme.
The apex bank’s Acting Head, Corporate Communications Department, Mrs. Hakama Sidi Ali, in a statement issued on Friday to update the public on the recapitalization exercise, confirmed that the capital positions of the remaining banks were currently undergoing the CBN’s routine verification process ahead of final confirmation of compliance within the recapitalisation timeline.
The CBN reiterates that the Nigerian banking system remains stable and sound and that recapitalisation programme remains firmly on track and will further strengthen the capacity of the banking sector to support households, businesses, and sustainable economic growth.
The apex bank assured stakeholders in the nation’s financial system that it would continue to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements.
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It would be recalled that the CBN introduced the recapitalisation programme for the banking sector in 2024 to strengthen the resilience, stability, and long-term capacity of the financial system to support Nigeria’s economic development.
Since the introduction of the policy, banks across the industry have taken steps to strengthen their capital base in line with the revised regulatory requirements.
