The Central Bank of Nigeria (CBN) says 33 banks out of 38 met the revised minimum capital requirements under its recapitalisation programme aimed at strengthening the resilience of the financial system.In a statement on Wednesday, CBN said the programme, which commenced in March 2024, has now been concluded after a 24-month implementation period.
According to the statement jointly signed by Hakama Sidi-Ali, acting director of corporate communications and Olubukola Akinwunmi, director banking supervision, the CBN said banks raised a total of N4.65 trillion under its recapitalisation programme.
The programme recorded strong participation from both domestic and international investors, with 72.55% of capital sourced locally and 27.45% from international markets, reflecting sustained confidence in the Nigerian banking sector,” CBN said.
Olayemi Cardoso, governor of the CBN, said the programme has reinforced the capital base of Nigerian banks and positioned the sector to better support economic growth.“The recapitalisation programme 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,” Cardoso said.
The apex bank said some banks are still undergoing regulatory and judicial processes.Advertisement“The CBN confirms that 33 banks have met the revised minimum capital requirements established under the programme. A limited number of institutions remain subject to ongoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks,” the financial regulator said.
CBN also assured that “all banks remain fully operational, with no disruption to banking services”.According to the regulator, the recapitalisation has strengthened capital adequacy ratios (CAR) across the banking sector, with levels remaining above international benchmarks under the Bank for International Settlements (Basel standards).“Minimum CAR thresholds remain at 10% for regional and national banks and 15% for banks with international authorization,” the apex bank said
The recapitalisation, implemented alongside an orderly exit from regulatory forbearance, has improved asset quality, reinforcing balance sheet transparency and overall financial system stability.”To sustain the gains, the CBN said it has strengthened its risk-based supervisory framework, requiring banks to conduct regular stress testing and maintain adequate capital buffers.The regulator added that prudential guidelines and supervisory processes will continue to be reviewed periodically to support improved governance, risk management, and overall sector stability.“The successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks,” CBN said.
The regulator added that its commitment to maintaining a stable and transparent financial system inspires confidence among depositors, investors, and the wider public.
