The Central Bank of Nigeria (CBN) has announced that 30 banks have met the new minimum capital requirements introduced under its ongoing banking sector recapitalisation programme.
The update was contained in a statement issued on Friday by the CBN’s Acting Director of Corporate Communications, Hakama Sidi-Ali.
According to the apex bank, the latest figure follows an earlier update which confirmed that 20 banks had met the requirement ahead of the March 31 deadline. In total, lenders have raised about ₦4.05 trillion under the recapitalisation drive.
The CBN noted that the programme, which began in 2024, is progressing steadily across the banking industry as financial institutions strengthen their capital bases through various fundraising strategies.
“As of March 6, 2026, the recapitalisation exercise is progressing steadily. Thirty (30) banks have met the new minimum capital requirements applicable to their respective licence authorisations,” the statement said.
“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 regulator said banks have been tapping the capital market and other funding channels to meet the revised requirements introduced under the policy.
While several institutions have already achieved the required capital levels, the CBN said the remaining banks are currently undergoing routine supervisory verification before their compliance is formally confirmed.
“The capital positions of the remaining banks are currently undergoing the Central Bank’s routine verification process ahead of final confirmation of compliance within the recapitalisation timeline,” the statement added.
According to the regulator, the verification process forms part of its supervisory mandate to ensure that funds raised by financial institutions meet prudential standards and regulatory requirements.
The recapitalisation programme was introduced in 2024 as part of broader reforms aimed at strengthening Nigeria’s financial system and positioning banks to better support economic growth.
Under the framework, banks are required to raise fresh capital to meet revised minimum thresholds based on the type of licence they hold.
The CBN said the policy is designed to enhance the resilience and long-term stability of the banking system by ensuring that financial institutions maintain stronger capital buffers capable of absorbing economic shocks while supporting lending to businesses and households.
Despite the ongoing adjustments across the sector, the regulator maintained that Nigeria’s banking system remains stable.
“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 statement noted.
The apex bank also assured stakeholders that it would maintain close regulatory oversight throughout the recapitalisation process.
