The Central Bank of Nigeria (CBN) has announced the successful completion of the recapitalisation programme of Nigeria’s banking sector with 33 banks meeting the revised minimum capital requirements under the programme and raising a total of N4.65 trillion in new capital.
In a statement issued on Wednesday and jointly signed by the CBN Director, Banking Supervision, Olubukola Akinwunmi, and the Acting Director, Corporate Communications, Mrs. Hakama Sidi Ali, the apex bank’s management confirmed the completion of the programme.
The CBN stated that the programme recorded strong participation from both domestic and international investors, with 72.55 per cent of capital sourced locally and 27.45 per cent from international markets, which reflected sustained confidence in the Nigerian banking sector.
Commenting on the programme, the CBN Governor, Olayemi Cardoso, enthused: “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 and withstand domestic and external shocks.”
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The apex bank disclosed that a limited number of institutions remained subject to ongoing regulatory and judicial processes now being addressed through established supervisory and legal frameworks, assuring that all banks remain fully operational to provide services for customers.
While noting that the recapitalization programme has strengthened the lenders’ capital adequacy ratios with the minimum CAR thresholds at 10 per cent for regional and national banks and 15 per cent for banks with international authorisation (CAR), thereby positioning the sector’s CAR levels above international Basel benchmarks.
According to the CBN, the recapitalisation programme, implemented alongside an orderly exit from regulatory forbearance, has improved asset quality, reinforcing balance sheet transparency and overall financial system stability as well as strengthened its risk-based capital adequacy framework, requiring banks to conduct regular stress testing across defined scenarios and maintain appropriate capital buffers.
Despite the feat, the apex bank reiterated that “key regulatory measures, including prudential guidelines and the supervisory framework, are subject to periodic review to support ongoing strengthening of governance, risk management, and sector resilience.”
It assured that it remained “committed to maintaining a stable, transparent, and resilient financial system that inspires confidence among depositors, investors, and the broader public, and to advancing the sustainability of the nation’s financial architecture.”
It would be recalled that the CBN introduced a revised recapitalisation policy in March 2024, giving banks a 24-month compliance timeline, from 1 April 2024 to 31 March 2026, to strengthen their capital base.
The policy required the banks to increase their capital base with thresholds of N500 billion for banks with International operations, N200 billion for National licences, and N50 billion for Regional operators.
