The Central Bank of Nigeria (CBN) has said that it introduced a recapitalisation programme for the banking sector in 2024 to strengthen the resilience, stability, and long-term capacity of the financial system to support Nigeria’s economic development.
A statement by Hakama Sidi Ali (Mrs.) Ag. Director, Corporate Communication, on Friday, said since the introduction of the policy, banks across the industry had taken steps to strengthen their capital base in line with the revised regulatory requirements.
The CBN said that as of March 6, 2026, the recapitalisation exercise was progressing steadily. Thirty (30) banks had met the new minimum capital requirements applicable to their respective licence authorisations.
It stated that In total, thirty-three (33) banks had raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the programme.
“The capital positions of the remaining banks are currently undergoing the Central Bank’s routine verification process ahead of final confirmation of compliance within the recapitalisation timeline,” it added.
The CBN reiterated that the Nigerian banking system remained stable and sound.
Accirding to the apex bank, “The recapitalisation programme remains firmly on track and will further strengthen the capacity of the banking sector to support households, businesses, and sustainable energy economic growth.Nigerian election coverage:
CBN said it would continue to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements.
Stay ahead with the latest updates! Join The ConclaveNG on WhatsApp and Telegram for real-time news alerts, breaking stories, and exclusive content delivered straight to your phone. Don’t miss a headline — subscribe now!
 has said that it introduced a recapitalisation programme for the banking sector in 2024...){kind=link}