The Central Bank of Nigeria (CBN) on Wednesday confirmed that 33 banks have met the new minimum capital requirements under its two-year recapitalisation programme, raising a combined N4.65tn to strengthen the nation’s financial system.
The recapitalisation, which began in March 2024, attracted both domestic and international investors.
According to a statement jointly signed by Olubukola Akinwunmi, the director of banking supervision and Hakama Sidi-Ali, the acting director of corporate communications, the exercise boosted banks’ capacity to support the economy.
The statement reads, “Over the 24-month period, Nigerian banks raised a total of N4.65tn in new capital, strengthening the resilience of the financial system and enhancing its capacity to support the economy.”
The regulator said local investors accounted for 72.55 per cent of the funds, while international investors contributed 27.45 per cent, reflecting continued confidence in the sector.
Commenting on the outcome, Olayemi Cardoso, the CBN governor said in the statement, “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.”
It added that while 33 banks have complied with the new thresholds, a few others are still undergoing regulatory and legal processes.
The statement noted, “The CBN confirms that 33 banks have met the revised minimum capital requirements established under the programme.
“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 CBN said local investors accounted for 72.55% of the funds raised, while international investors contributed 27.45%, reflecting sustained confidence in the banking sector.
Commenting on the recapitalisation, Olayemi Cardoso, the CBN governor, “the 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.”
While 33 banks have complied with the new thresholds, the apex bank noted that a small number of institutions are still undergoing regulatory and legal processes. All banks remain fully operational, ensuring uninterrupted access to banking services.
The statement also highlighted improved prudential indicators, particularly capital adequacy ratios, which now exceed global Basel benchmarks. Minimum ratios were set at 10% for regional and national banks and 15% for banks with international licences.
CBN further explained that the recapitalisation coincided with a gradual exit from regulatory forbearance, improving asset quality, balance sheet transparency, and overall sector stability.
To sustain gains, the central bank has reinforced risk-based supervision, including stress tests and mandatory capital buffers, while regularly reviewing guidelines to enhance governance and risk management.
Earlier reports indicated that foreign capital inflows into Nigeria’s banking sector rose by 93.25% year-on-year to $13.53bn in 2025, up from $7bn in 2024, with the banking sector remaining the dominant destination.
Despite the sector’s strengthened position, the Centre for the Promotion of Private Enterprise (CPPE) warned that small businesses have yet to fully benefit from improved credit flows.