Nigeria’s banking sector has recorded a major regulatory milestone after the Central Bank of Nigeria (CBN) announced the conclusion of its recapitalisation programme, with 33 out of 38 banks meeting revised minimum capital requirements.
The apex bank disclosed that the exercise, which began in March 2024, has now been successfully wrapped up following a 24-month implementation window aimed at strengthening financial system stability and resilience.
Brandspur Banking News Desk reports that Nigerian banks collectively raised N4.65 trillion during the recapitalisation process, with a significant portion of the funds sourced locally, signalling sustained investor confidence in the country’s financial system.
In its official statement, the CBN highlighted that 72.55 per cent of the capital mobilisation came from domestic investors, while 27.45 per cent was attracted from international markets, reflecting a blend of local strength and global interest.
Governor of the CBN, Olayemi Cardoso, said the exercise has significantly bolstered the banking sector’s capital base, positioning it to better support economic growth and absorb both domestic and external shocks.
Despite the overall success, the regulator noted that a small number of financial institutions are still undergoing regulatory and judicial processes, which are being addressed within established supervisory frameworks.
The CBN, however, assured the public that all banks remain fully operational, with no disruption to services across the industry.
The regulator further revealed that the recapitalisation has improved capital adequacy ratios (CAR) across the sector, maintaining levels above global benchmarks in line with Basel standards set by the Bank for International Settlements.
Under the current framework, minimum CAR requirements remain at 10 per cent for regional and national banks, and 15 per cent for banks with international licences.
The apex bank added that the programme, combined with a phased exit from regulatory forbearance, has enhanced asset quality, improved transparency in bank balance sheets, and strengthened overall financial system stability.
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To sustain these gains, the CBN said it has reinforced its risk-based supervisory approach, mandating regular stress testing by banks and the maintenance of adequate capital buffers.
The regulator emphasised that ongoing reviews of prudential guidelines and supervisory mechanisms will continue to support stronger corporate governance, risk management practices, and long-term sector resilience.
According to the CBN, the successful completion of the recapitalisation programme marks a critical step towards building a more robust banking system capable of supporting lending, mobilising savings, and withstanding global economic pressures.
