The Central Bank of Nigeria (CBN) has disclosed that 33 out of 37 banks in Nigeria have met the new minimum capital requirements under the ongoing banking sector recapitalisation programme.
CBN Governor, Olayemi Cardoso, disclosed this while briefing journalists after the Monetary Policy Committee (MPC) meeting in Abuja.
The recapitalisation programme, introduced by the CBN in March 2024, requires banks to strengthen their capital base to improve resilience, support economic growth and enhance their capacity to withstand financial and economic shocks.
According to the apex bank, the majority of banks have successfully met the new capital thresholds, while the remaining institutions are still being monitored by the regulator
The CBN had set March 31, 2026 as the deadline for banks to comply with the revised minimum capital requirements
The exercise is part of the apex bank’s broader efforts to strengthen Nigeria’s banking sector and ensure that financial institutions have sufficient capital to support increased lending and economic activities
The CBN said it would continue to monitor the affected institutions and take appropriate regulatory measures to ensure full compliance