The Central Bank of Nigeria (CBN) has announced the conclusion of its banking sector recapitalisation programme, revealing that 33 out of the 38 licensed banks in the country have successfully met the revised minimum capital requirements.
The apex bank disclosed this in a statement on Wednesday, noting that the exercise, which commenced in March 2024, has now ended after a two-year implementation period aimed at strengthening the resilience and stability of the nation’s financial system.
According to the statement jointly signed by Hakama Sidi-Ali, Acting Director of Corporate Communications, and Olubukola Akinwunmi, Director of Banking Supervision, banks collectively raised N4.65 trillion under the recapitalisation programme.
The CBN said the exercise attracted strong participation from investors, both locally and internationally, underscoring sustained confidence in the Nigerian banking industry.
“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,” the statement said.
CBN Governor, Olayemi Cardoso, said the recapitalisation effort has strengthened the capital base of banks and improved the financial system’s ability to support economic growth and withstand shocks.
According to him, the programme was designed to ensure Nigerian banks remain well capitalised and capable of navigating both domestic and global economic uncertainties.
“The recapitalisation programme has reinforced the capital base of Nigerian banks, strengthening the resilience of the financial system and positioning it to better support economic growth,” Cardoso said.
The apex bank, however, noted that a few financial institutions are still undergoing regulatory and judicial processes, which are being addressed through established supervisory and legal channels.
Despite this, the regulator assured the public that all banks remain fully operational, adding that there has been no disruption to banking services nationwide.
The CBN also stated that the recapitalisation programme has improved the capital adequacy ratios (CAR) of banks across the sector, with most institutions maintaining levels above international regulatory standards set by the Bank for International Settlements (Basel framework).
Under current regulatory requirements, regional and national banks must maintain a minimum CAR of 10 per cent, while banks with international licences are required to maintain at least 15 per cent.
The apex bank explained that the recapitalisation exercise was implemented alongside a phased exit from regulatory forbearance, a move aimed at improving asset quality and strengthening transparency in bank balance sheets.
According to the regulator, the process has contributed to stronger financial positions for banks and improved stability within the sector.
To consolidate the gains achieved, the CBN said it has further strengthened its risk-based supervisory framework, requiring banks to carry out regular stress testing and maintain sufficient capital buffers.
The regulator added that it will continue to review prudential guidelines and supervisory processes to enhance corporate governance, risk management practices, and long-term financial stability.
The CBN said the successful completion of the recapitalisation programme marks a significant milestone in building a stronger and more resilient banking system capable of supporting lending, mobilising savings, and withstanding economic shocks.
It reiterated its commitment to maintaining a stable and transparent financial system, noting that such stability remains essential for boosting investor confidence and safeguarding the interests of depositors.
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