The Central Bank of Nigeria (CBN) has announced that 30 commercial banks have successfully met the new minimum capital requirements ahead of the March 31, 2026, recapitalization deadline.
The update was disclosed in a statement on Friday by the CBN spokesperson, Hakama Ali-Sidi.
According to the apex bank, a total of 33 banks have raised additional capital through various funding channels, including rights issues, initial public offerings (IPOs), and private placements as part of the ongoing recapitalization program.
The CBN explained that although 30 banks have already met the required capital thresholds for their respective licenses, three others are currently undergoing routine verification of their capital positions before final confirmation of compliance within the recapitalization timeline.
The regulator noted that the recapitalization exercise is progressing smoothly.
“As of March 6, 2026, the recapitalization exercise is progressing steadily. Thirty banks have met the new minimum capital requirements applicable to their respective license authorizations. In total, thirty-three banks have raised additional capital through rights issues, IPOs, and private placements as part of the program,” the statement said.
The apex bank added that it will continue to closely monitor regulated institutions to ensure they comply fully with prudential and capital requirements.
Earlier, the CBN Governor, Olayemi Cardoso, disclosed during the 304th Monetary Policy Committee briefing that 20 out of the 33 banks had met the new capital threshold as of February 24, 2026.
The latest update indicates that an additional 10 banks have achieved compliance between February 24 and March 6.
The recapitalization policy was introduced by the CBN in March 2024, giving banks a two-year window to meet the new capital base requirements, with March 31, 2026, set as the deadline.
