The Central Bank of Nigeria (CBN) has announced the successful completion of its banking sector recapitalisation programme, launched in March 2024, marking a major milestone in efforts to reinforce Nigeria’s financial stability.
In a statement issued on Wednesday in Abuja, the apex bank revealed that Nigerian banks collectively raised N4.65 trillion in fresh capital over a 24-month period. The initiative attracted strong participation from both local and international investors, with 72.55 per cent of the funds sourced domestically and 27.45 per cent from foreign markets—an indication of sustained investor confidence in the sector.
The statement, jointly signed by Dr. Olubukola Akinwunmi, Director of Banking Supervision, and Mrs. Hakama Sidi-Ali, Acting Director of Corporate Communications, confirmed that 33 banks have met the revised minimum capital requirements set under the programme. It added that a few institutions are still undergoing regulatory and judicial processes, which are being managed within established legal frameworks, while all banks remain fully operational.
According to the CBN, the recapitalisation exercise has significantly strengthened Capital Adequacy Ratios (CAR) across the sector, keeping them above global Basel standards. Minimum CAR thresholds remain at 10 per cent for regional and national banks, and 15 per cent for banks with international licences.
The bank further noted that the programme, combined with a phased exit from regulatory forbearance, has improved asset quality, enhanced balance sheet transparency, and boosted overall financial system resilience. To sustain these gains, the CBN has introduced stricter risk-based capital frameworks, including mandatory stress testing and the maintenance of adequate capital buffers.
“The successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand both domestic and global economic shocks,” the statement said.
CBN Governor, Olayemi Cardoso, also reaffirmed the impact of the exercise, stating that the strengthened capital base of Nigerian banks positions the financial system to better support economic growth while maintaining stability in the face of external pressures.
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