The Central Bank of Nigeria (CBN) has officially concluded its nationwide bank recapitalization exercise, raising a total of ₦4.65 trillion from 33 financial institutions as the March 31, 2026 deadline elapsed.
In a statement released on Wednesday by the Director of Banking Supervision, Olubukola Akinwunmi, the apex bank confirmed the successful completion of the two-year initiative, which commenced in March 2024. The recapitalization program was designed to strengthen the financial sector and align Nigerian banks with global standards.
According to the CBN, 72.55 percent of the capital raised was sourced domestically, while the remaining portion came from international markets, reflecting sustained investor confidence in Nigeria’s banking industry.
CBN Governor, Olayemi Cardoso, described the outcome as a major milestone, noting that the exercise has significantly enhanced the resilience of the banking sector.
“The recapitalization program 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,” he stated.
The apex bank disclosed that all 33 participating banks have met the revised minimum capital requirements under the program. However, a few institutions are still undergoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks.
Despite this, the CBN assured the public that all banks remain fully operational, with uninterrupted access to banking services nationwide.
The regulator further noted that the exercise has improved Capital Adequacy Ratios (CAR) across the sector, with banks maintaining levels above international Basel benchmarks. Current minimum CAR thresholds stand at 10 percent for regional and national banks, and 15 percent for banks with international licenses.
Additionally, the recapitalization—implemented alongside the gradual withdrawal of regulatory forbearance—has enhanced asset quality, strengthened balance sheet transparency, and bolstered overall financial system stability.
The development marks a significant step in fortifying Nigeria’s financial architecture amid evolving global economic challenges.
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