Nigeria’s Banking Sector Strengthens as CBN Reports Progress in Recapitalisation Drive
Oru Leonard
The Central Bank of Nigeria (CBN) has announced significant progress in the ongoing recapitalisation programme introduced in 2024 to strengthen the resilience and long-term stability of Nigeria’s banking sector.
A statement issued on March 6, 2026, by Hakama Sidi Ali, Acting Director of Corporate Communications at the apex bank noted the exercise is advancing steadily, with 30 banks already meeting the new minimum capital requirements tied to their respective licence categories. The recapitalisation policy was designed to reinforce the financial system and position banks to better support Nigeria’s economic development.
According to the CBN, 33 banks have successfully raised additional capital through various channels, including rights issues, initial public offerings (IPOs), and private placements, as part of efforts to comply with the revised regulatory standards.
The central bank also noted that the capital positions of the remaining banks are currently undergoing routine verification, a process that precedes final confirmation of compliance within the timeline set for the recapitalisation programme.
Reassuring the public and investors, the CBN emphasized that Nigeria’s banking system remains stable and sound, adding that the recapitalisation initiative will further strengthen the sector’s capacity to support households, businesses, and sustainable economic growth.
The regulator said it will continue close supervisory engagement with all regulated institutions to ensure full compliance with prudential and capital requirements.
