Nineteen Nigerian banks have successfully met the Central Bank of Nigeria’s recapitalization requirements as of January 6, 2026, ahead of the March 31 deadline. According to data released by The Cable Index, the banks that have complied with the requirements include those with international licenses, such as Access Bank, Fidelity Bank, First Bank, GTBank, UBA, and Zenith Bank.
In addition to these international banks, several banks with national and regional licenses have also met the recapitalization benchmarks. These include Citibank Nigeria, Ecobank Nigeria, Globus Bank, Stanbic IBTC, Sterling Bank, Wema Bank, PremiumTrust Bank, and Providus Bank. Furthermore, two non-interest banks, Jaiz and Lotus, and three merchant banks, FSDH, Greenwich, and Nova, have achieved the required capital thresholds.
The Central Bank of Nigeria had announced new capital requirements in March 2024, which included N500 billion for international banks, N200 billion for national banks, N50 billion for merchant banks, and between N10 billion and N20 billion for non-interest banks. Despite the progress made by the 19 banks that have met the requirements, approximately 14 banks are still to meet the recapitalization requirement.
The recapitalization requirements are aimed at strengthening the banking sector in Nigeria and ensuring that banks have sufficient capital to operate effectively. The move is also expected to enhance the stability of the financial system and promote confidence in the banking sector. With the March 31 deadline approaching, the banks that are yet to meet the requirements are expected to take necessary steps to comply with the Central Bank’s regulations.
The successful recapitalization of the 19 banks is a significant development for the Nigerian banking sector, and it is expected to have a positive impact on the overall economy. The Central Bank of Nigeria’s efforts to strengthen the banking sector are part of a broader strategy to promote financial stability and support economic growth. As the deadline for recapitalization approaches, it is likely that the banking sector will undergo significant changes, and it remains to be seen how the banks that are yet to meet the requirements will respond to the challenge.
