The Central Bank of Nigeria (CBN) has announced the completion of its banking sector recapitalisation programme, revealing that 33 deposit money banks collectively raised N4.65 trillion in fresh capital to strengthen their financial positions and enhance system resilience.
The disclosure was made in a statement signed by Dr. Olubukola Akinwunmi and Mrs. Hakama Sidi Ali.
According to the apex bank, the recapitalisation exercise, which spanned 24 months, significantly boosted the strength of the financial system and improved banks’ capacity to support economic activities.
The statement noted that investor confidence remained strong throughout the programme, with 72.55 per cent of the capital raised locally, while 27.45 per cent came from international markets.
Commenting on the development, CBN Governor, Olayemi Cardoso, said the exercise has reinforced the capital base of Nigerian banks, positioning them to better support economic growth and withstand both domestic and global shocks.
The CBN confirmed that 33 banks have met the new minimum capital requirements introduced under the programme, while a few institutions are still undergoing regulatory and legal processes. Despite this, all banks remain operational, ensuring uninterrupted access to banking services.
The apex bank added that the exercise has strengthened capital adequacy ratios across the sector, keeping them above international Basel standards. Minimum requirements remain at 10 per cent for regional and national banks, and 15 per cent for those with international licences.
The recapitalisation, alongside a phased exit from regulatory forbearance, has also improved asset quality, enhanced transparency, and reinforced overall financial stability.
To sustain these gains, the CBN said it has upgraded its risk-based supervisory framework, mandating regular stress testing and the maintenance of adequate capital buffers by banks. It also noted that prudential guidelines and supervisory measures will continue to be reviewed to strengthen governance, risk management, and long-term resilience in the banking sector.
