The Central Bank of Nigeria has disclosed that a total of N4.05 trillion has so far been raised under the ongoing banking sector recapitalisation programme, with both domestic and foreign investors displaying strong participation.
The Governor of the CBN, Olayemi Cardoso, created this known on Tuesday at the close of the 304th Monetary Policy Committee (MPC) media briefing in Abuja.
According to Cardoso, N2.90trn, representing 71.67 per cent of the total capital raised, was mobilised from domestic sources, while foreign investors contributed $706.84m, estimated at N1.15tn or 28.33 per cent.
He declared the balanced mix of local and foreign funding reflects growing investor confidence in Nigeria’s banking sector and the credibility of the recapitalisation framework introduced by the apex bank.
The CBN governor revealed that 20 banks have already fully met the new minimum capital requirements, while an additional 13 banks are at advanced stages of raising capital and are expected to conclude their processes before the March 31, 2026 deadline.
“Activity is accelerating as the deadline approaches, and based on the pace of compliance so far, we are optimistic that a substantial number of institutions will align with the new requirements by the cut-off date,” Cardoso declared.
He explained that banks still finalising their recapitalisation plans are evaluating various strategic options, including mergers and other forms of consolidation, where appropriate, to achieve compliance within the remaining timeframe.
Cardoso also provided an update on banks currently under regulatory intervention, noting that the sequence and structure of recapitalisation measures for such institutions are influenced by specific legal and operational considerations.
He assured depositors and other stakeholders that funds in affected institutions remain safe, stressing that the CBN continues to maintain strict regulatory oversight to ensure orderly and credible outcomes while safeguarding financial stability.
Under the recapitalisation framework, the CBN has set new minimum capital thresholds of N500bn for commercial banks with international authorisation, N200bn for those with national authorisation, and N50bn for regional commercial banks.
Merchant banks are required to maintain a minimum capital base of N50bn, while non-interest banks must hold N20bn and N10bn for national and regional licences respectively.
The recapitalisation programme forms part of broader reforms aimed at strengthening the resilience of Nigeria’s banking system, enhancing its capacity to support economic growth, and positioning the sector to absorb future shocks.
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