Nigerian banks have successfully raised N1.7 trillion in the first phase of the Central Bank of Nigeria’s recapitalization drive.
The development comes as Nigeria’s banking sector recorded a strong start in 2025, with the NGX Banking Index surging by 9.76 percent in January; this is according to a corporate report obtained from the Nigerian Exchange Group on Tuesday.
The impressive run was fueled by increased investor confidence amid the ongoing recapitalization, which is expected to elapse in March 2026.
Accordingly, Wema Bank Plc led the gainers with a 25.8 percent increase, pushing its share price from N9.10 to N11.45. FCMB Group Plc followed with a 17.55 percent rise, closing at N11.05 from N9.40, while Stanbic IBTC Holdings gained 11.71 percent, moving from N57.60 to N64.35 per share.
Top banks such as Zenith Bank, UBA, and GTB also had their share of contribution to the impressive record put forward by the financial sector in the period under review.
Recall that on March 28, last year, the Central Bank of Nigeria announced a recapitalization exercise for the country’s financial sector.
Under the new guidelines, commercial banks with international licences must hold N500 billion in capital, while national commercial banks require N200 billion. Regional commercial and merchant banks must meet an N50 billion threshold.
However, financial experts expect the momentum to continue in the coming months.
“As Nigeria’s banking industry moves towards compliance with the CBN’s new capital framework, the ongoing recapitalization drive is expected to deepen market liquidity, enhance financial stability, and sustain long-term growth in the sector”, said Managing Director of Arthur Steven Asset Management, Olatunde Amolegbe.
