CBN confirms 33 banks meet recapitalisation as lenders raise N4.65trn

The Central Bank of Nigeria (CBN) has announced the conclusion of the banking sector recapitalisation programme initiated in March 2024.

This was contained in a statement issued by the CBN on Wednesday, April 1, 2026.

The statement was jointly signed by the Director of Banking Supervision, Dr Olubukola Akinwunmi, and the Acting Director of Corporate Communications Department, Hakama Sidi-Ali.

The CBN noted that over the 24-month period, Nigerian banks raised N4.65 trillion in new capital, strengthening the resilience of the financial system and enhancing its capacity to support the economy.

The apex bank said the programme recorded strong participation from both domestic and international investors with 72.55 per cent of capital sourced locally and 27.45 per cent from international markets, reflecting sustained confidence in the Nigerian banking sector.

The CBN confirmed that 33 banks had met the revised minimum capital requirements established under the programme.

It stated: “A limited number of institutions remain subject to ongoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks.

“All banks remain fully operational, ensuring continued access to banking services for customers.”

The apex bank said the programme had strengthened Capital Adequacy Ratios (CAR), with the sector maintaining levels above international Basel benchmarks.

It said the minimum CAR thresholds remained at 10 per cent for regional and national banks and 15 per cent for banks with international authorisation.

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“The recapitalisation implemented alongside an orderly exit from regulatory forbearance has improved asset quality, reinforcing balance sheet transparency and overall financial system stability,” the CBN stated.

The apex bank said, to safeguard these gains, it had strengthened its risk-based capital adequacy framework requiring banks to conduct regular stress testing across defined scenarios and maintain appropriate capital buffers.

It said key regulatory measures, including prudential guidelines and the supervisory framework, were subject to periodic review to support ongoing strengthening of governance, risk management, and sector resilience.

The CBN added that the recapitalisation programme was carried out without disruption to banking services, ensuring continuous access for individuals and businesses throughout the process.

The CBN Governor, Olayemi Cardoso, corroborated the gains, stating that the recapitalisation programme had strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system.

Cardoso said it also ensured that the financial system was well-positioned to support economic growth and withstand domestic and external shocks.

The Star