The Central Bank of Nigeria (CBN) declared on Friday 30 banks have met the new capital requirements ahead of the March 31 deadline.
The CBN Acting Director.of Corporate Communications Development, Mrs. Hakama Sidi-Ali, disclosed this in a statement in Abuja.
She declared as of March 6, the banks have met the new minimum capital requirements applicable to their respective licence authorisations.
“In total, 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 banks are currently undergoing the CBN’s routine verification process ahead of final confirmation of compliance within the recapitalisation timeline.
“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 hoapplyholds, businesses, and sustainable economic growth,” the director stated.
She declared the CBN would continue to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements.
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The CBN Governor, Mr. Olayemi Cardoso, had earlier declared the banking sector recapitalisation programme was progressing in accordance with the approved regulatory timetable.
Speaking at the close of the 304th Monetary Policy Committee (MPC) media briefing, on February 24, Cardoso declared that 20 banks had fully met the new minimum capital requirements.
He declared that a further 13 banks were at advanced stages of their capital-raising processes and were expected to conclude within the stipulated timeframe.
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