By Nchetachi Chukwuajah
The Central Bank of Nigeria (CBN) on Wednesday, April 1, said 33 out of 38 banks met the revised minimum capital requirements under its recapitalisation programme.
The programme aims to strengthen the financial system’s resilience and capacity to support the growth of the economy.
The CBN disclosed this in a statement issued on Wednesday and jointly signed by acting Director of Corporate Communications, Hakama Sidi-Ali, and Director, Banking Supervision, Olubukola Akinwunmi.
It said under the recapitalisation programme, which commenced in March 2024 and has now been concluded after a 24-month implementation period, banks raised a total of N4.65 trillion.
The CBN highlighted the spread of participation in the programme, with 72.55 percent of capital sourced locally and 27.45 per cent from international markets.
The apex bank said, “The programme recorded strong participation from both domestic and international investors, with 72.55% of capital sourced locally and 27.45% from international markets, reflecting sustained confidence in the Nigerian banking sector.”
CBN Governor, Olayemi Cardoso, said the programme has reinforced the capital base of Nigerian banks and positioned the financial sector to better support economic growth.
He said, “The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks.”
According to the CBN, some banks are still undergoing regulatory and judicial processes, noting that the processes are being addressed through the necessary established frameworks.
The apex bank further noted that the recapitalisation programme has strengthened capital adequacy ratios (CAR) across the banking sector, which are at levels above international benchmarks under the Bank for International Settlements (Basel standards).
It said, “Minimum CAR thresholds remain at 10% for regional and national banks and 15% for banks with international authorisation.
“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 added, “The successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks.”
The regulator added that to sustain the gains recorded, it has strengthened its risk-based supervisory framework, requiring banks to conduct regular stress testing and maintain adequate capital buffers.
It noted that prudential guidelines and supervisory processes will continue to be reviewed periodically to support improved governance, risk management, and overall sector stability.
The apex bank further reiterated its commitment to maintaining a stable and transparent financial system and inspiring confidence among depositors, investors, and the wider public.
