Nigeria’s banking sector recapitalisation programme is gathering pace, with 30 banks already meeting the new minimum capital requirements introduced by the Central Bank of Nigeria (CBN).Read original
The apex bank disclosed on Friday that a total of 33 banks have successfully raised fresh capital through various channels, including rights issues, initial public offerings (IPOs), and private placements since the industry-wide recapitalisation programme was launched in 2024.
In a statement signed by Hakama Sidi Ali, Acting Director of Corporate Communications, the CBN said the process has been progressing steadily across the banking sector.
“As of March 6, 2026, the recapitalisation exercise is progressing steadily. Thirty banks have met the new minimum capital requirements applicable to their respective licence authorisations. In total, thirty-three banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the programme,” the statement said.
According to the regulator, the capital positions of the remaining three lenders are currently undergoing routine verification by regulatory authorities before final confirmation of their compliance with the new capital thresholds within the stipulated timeline.
Why the CBN Introduced the Recapitalisation Programme
The recapitalisation initiative was introduced in 2024 as part of broader reforms aimed at strengthening the resilience of Nigeria’s banking sector and improving financial stability.
Under the policy, banks are required to significantly increase their capital base in line with revised regulatory thresholds tied to their operating licences. The goal is to ensure that financial institutions are better positioned to absorb economic shocks, deepen credit intermediation, and support large-scale economic activities across the country.
Since the announcement of the policy, banks have embarked on aggressive capital-raising programmes, attracting investments from both domestic and international investors through equity offerings and private placements. Many lenders have also restructured their balance sheets and expanded shareholder participation to meet the new regulatory requirements.
One of the Biggest Banking Reforms in Decades
Financial analysts believe the recapitalisation push is one of the most significant regulatory reforms in Nigeria’s banking sector since the landmark 2004 banking consolidation exercise carried out by the Central Bank of Nigeria.
That reform reduced the number of banks in the country while significantly strengthening their capital buffers and improving the stability of the financial system.
The CBN reiterated that Nigeria’s banking system remains stable and sound, adding that the ongoing recapitalisation programme will further strengthen the sector’s ability to support households, businesses, and long-term economic expansion.
Stronger capital buffers, according to the apex bank, will enable financial institutions to increase lending to critical sectors of the economy, finance major infrastructure projects, support small and medium-sized enterprises (SMEs), and deepen financial inclusion.
The regulator also assured that it will maintain close supervisory engagement with banks throughout the recapitalisation process to ensure full compliance with prudential standards and capital adequacy requirements.