20 banks meet recapitalisation as investors raise N4.05trn

The Central Bank of Nigeria says 20 banks have already met the new minimum capital requirements under its ongoing recapitalisation programme, with total verified capital raised reaching ₦4.05 trillion.

CBN Governor Olayemi Cardoso disclosed that the funds reflect strong investor participation ahead of the March 31, 2026 deadline.

According to him, ₦2.90 trillion — about 71.67 per cent — was mobilised domestically, while foreign investors contributed US$706.84 million, estimated at ₦1.15 trillion, accounting for 28.33 per cent of the total.

Cardoso said the mix of domestic and international funding signals growing confidence in Nigeria’s banking sector and supports efforts to strengthen financial resilience.

Under the CBN framework, minimum capital requirements were set at ₦500 billion for international commercial banks, ₦200 billion for national banks, ₦50 billion for regional commercial and merchant banks, and between ₦10 billion and ₦20 billion for non-interest banks.