Thirty banks operating in Nigeria have met the recapitalisation requirement set by the Central Bank of Nigeria (CBN) as the regulatory deadline approaches.
The compliance milestone comes with 19 days remaining before the March 31, 2026 deadline for banks to meet the new minimum capital thresholds.
The recapitalisation programme was introduced by the Central Bank of Nigeria in 2024 to strengthen the financial stability and resilience of Nigeria’s banking sector.
The policy requires banks to raise their capital base to meet new minimum thresholds according to their operating licence category.
Under the framework, banks were given a 24-month window to comply, with the implementation period running from April 2024 to March 31, 2026.
Financial institutions have used several methods to increase capital, including rights issues, private placements, and public offers.
The initiative forms part of broader financial sector reforms aimed at strengthening the capacity of banks to support economic activity in Nigeria.
Findings indicate that 30 of the 35 banks currently operating in Nigeria have met the recapitalisation requirements ahead of the deadline.
Five banks have not yet completed the process but still have time to comply before the March 31 deadline.
According to the report, two of the banks are already involved in merger arrangements, which are expected to help them meet the regulatory capital requirement.
The recapitalisation exercise has led several lenders to explore consolidation strategies, including mergers and strategic partnerships, as part of efforts to strengthen their capital positions.
Industry data also shows that many banks have raised fresh funds through different channels to meet the new capital thresholds set by the regulator.
The recapitalisation policy is designed to ensure that Nigerian banks maintain sufficient capital buffers to absorb financial risks and support economic growth.
Regulators say stronger capital positions will improve the stability of financial institutions and enhance their ability to finance businesses and households across the country.
The compliance progress reported across the banking sector indicates that many institutions have taken steps to align with the revised regulatory requirements.
