The Central Bank of Nigeria has announced that 14 financial institutions in the country have met their 2026 recapitalisation requirements. Governor Olayemi Cardoso made this disclosure during a briefing following the 302nd Monetary Policy Committee meeting in Abuja. According to Cardoso, the Nigerian banking sector remains strong and resilient, with the 14 banks having already fulfilled the regulatory capital requirements.
In July 2025, during the 301st MPC meeting, Cardoso had reported that eight banks had met the minimum capital requirements set by the Central Bank of Nigeria. The recent update indicates a significant increase in the number of banks that have achieved this milestone. Although Cardoso did not specify the names of the banks that have met the recapitalisation requirements, reports suggest that major banks such as Zenith Bank, Access Bank, Guarantee Trust Bank, Stanbic, and United Bank of Africa have fulfilled their respective minimum capital requirements.
The recapitalisation requirements were increased by the Central Bank of Nigeria in March, with a deadline set for 2026. This move aims to strengthen the banking sector and ensure that financial institutions have sufficient capital to operate effectively. The development is significant, as it indicates that a substantial number of banks in Nigeria are well-prepared to meet the new regulatory requirements.
The increase in the number of banks meeting the recapitalisation requirements is a positive indicator of the Nigerian banking sector’s stability and ability to adapt to changing regulatory requirements. As the deadline for recapitalisation approaches, it is expected that more banks will announce their compliance with the new requirements. The Central Bank of Nigeria’s efforts to strengthen the banking sector are crucial for maintaining financial stability and promoting economic growth in the country. With the banking sector playing a vital role in Nigeria’s economy, the successful recapitalisation of banks is a significant step towards ensuring the sector’s continued resilience and ability to support economic development.
