The Central Bank of Nigeria has officially confirmed that 30 commercial lenders have now satisfied the elevated minimum capital thresholds first introduced in March 2024.
This latest progress update came via a statement issued on Friday by Hakama Sidi Ali, Acting Director of Corporate Communications at the apex bank.
It noted that 33 banks in all have successfully mobilised fresh funds using rights issues, initial public offerings and private placements during the ongoing exercise.
“The Central Bank of Nigeria (CBN) introduced a capitalisation programme for the banking sector in 2024 to strengthen the resilience, stability, and long-term capacity of the financial system to support Nigeria’s economic development,” the apex bank said.
Lenders across the industry have responded vigorously since the policy took effect, taking concrete steps to reinforce their equity bases in line with the revised regulatory benchmarks.
“As of March 6, 2026, the recapitalisation drive is advancing steadily, with the 30 banks having already attained the updated capital floors applicable to their respective licence categories.
“In total, thirty-three (33) banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the programme.”
The capital positions of the remaining institutions are currently going through the regulator’s routine verification process, paving the way for final confirmation of compliance before the deadline expires.
“The CBN reiterates that the Nigerian banking system remains stable and sound.
“The recapitalisation programme remains firmly on track and will further strengthen the capacity of the banking sector to support households, businesses, and sustainable economic growth,” the bank said.
“The Central Bank of Nigeria will continue to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements.”
The announcement follows an earlier briefing by CBN Governor Olayemi Cardoso on February 24, when he disclosed that 20 banks had already fully met the requirements, with the total verified and approved capital raised standing at N4 trillion as of February 19.
The entire recapitalisation mandate was first unveiled by the CBN on March 28, 2024, when it hiked minimum capital requirements for banks, setting March 31, 2026, as the final compliance date.
Persecondnews reports that the apex bank raised the minimum paid-up capital requirements for banks under its 2024 recapitalisation programme to strengthen the sector’s resilience and support economic growth.
These new thresholds apply based on licence category and must be met exclusively through paid-up share capital and share premium (reserves and retained earnings do not count).
Banks have until March 31, 2026 to comply, according to the CBN.
Here are the exact new minimum capital requirements:Commercial banks with international authorisation: ₦500 billion
Commercial banks with national authorisation: ₦200 billion
Commercial banks with regional authorisation: ₦50 billion
Merchant banks with national authorisation: ₦50 billion
Non-interest banks with national authorisation: ₦20 billion
Non-interest banks with regional authorisation: ₦10 billion
These represent significant increases from the previous levels (for example, international commercial banks previously needed only ₦50 billion).
The CBN has stated that the programme remains on track, with 30 banks already meeting their respective targets as of March 6, 2026.
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