Three Nigerian banks are yet to meet the minimum capital requirements set by the Central Bank of Nigeria (CBN) as of Friday, March 6, 2026, with the March 31 recapitalization deadline fast approaching.
The CBN disclosed this in a statement issued by its spokesperson, Mrs. Hakama Ali-Sidi, on Friday.
According to the apex bank, 30 banks have successfully met the new minimum capital thresholds required for their respective license categories, leaving only three banks still short of the requirement.
However, the CBN explained that the remaining three banks are currently undergoing routine verification of their capital positions after 33 banks raised additional funds through rights issues and initial public offerings (IPOs).
“As of March 6, 2026, the recapitalization exercise is progressing steadily. Thirty (30) banks have met the new minimum capital requirements applicable to their respective license authorizations,” the statement said.
Earlier, CBN Governor Olayemi Cardoso had disclosed during the 304th Monetary Policy Committee (MPC) briefing that only 20 of the 33 banks had met the capital requirements.
This means that between February 24 and March 6, an additional ten banks successfully complied with the recapitalization requirement.
The recapitalization program was introduced by the apex bank in March 2024, with March 31, 2026, set as the deadline for banks to meet the new capital thresholds.
