The Central Bank of Nigeria says the banking sector recapitalisation programme introduced in 2024 is progressing steadily, with financial institutions strengthening their capital base to meet new regulatory thresholds.
A statement by the Acting Director of Corporate Communications at the bank, Hakama Sidi Ali, says thirty banks have already met the new minimum capital requirements tied to their respective licence categories.
The statement adds that thirty-three banks had raised additional capital through rights issues, initial public offerings and private placements as part of the recapitalisation programme.
The CBN notes that the capital positions of the remaining banks are currently undergoing routine verification ahead of final confirmation of compliance within the stipulated timeline.
The apex bank reiterates that Nigeria’s banking system remains stable and sound, stressing that the recapitalisation initiative will further strengthen banks’ capacity to support households, businesses and sustainable economic growth.
