The Central Bank of Nigeria (CBN) has announced that 20 commercial banks have met its ongoing recapitalization requirements as of January 15, 2026. This update was provided by the CBN’s Deputy Governor for Economic Policy, Dr. Muhammad Abdullahi, during a panel session at the launch of the 2026 Macroeconomic Outlook in Lagos.
The recapitalization exercise, which has a deadline of March 31, 2026, aims to strengthen the capital bases of banks in the country. According to Dr. Abdullahi, the CBN has been actively engaged with financial institutions throughout the process and will continue to do so in the coming months. He noted that the apex bank is now focusing on ensuring that stronger capital bases translate into meaningful and productive lending to the economy.
As of January 15, 2026, 20 banks have already met the recapitalization requirements, with several more expected to follow suit. This represents an increase from the 19 banks reported to have met the requirements as of January 6, 2026. However, about 13 banks are yet to comply fully with the CBN’s requirements by submitting the necessary reports.
The CBN had set a deadline of March 31, 2026, for banks to meet various minimum capital requirements, including 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. The recapitalization exercise is expected to enhance the stability of the financial system and promote economic growth.
Dr. Abdullahi emphasized the importance of ensuring that a strengthened capital base translates into credit that is productive, well-targeted, and sustainable. The CBN’s efforts to monitor and guide the recapitalization process are crucial in achieving this goal. With the deadline fast approaching, the banking sector is expected to witness increased activity as institutions work to meet the requirements.
The successful completion of the recapitalization exercise will have significant implications for the Nigerian economy, as it is expected to lead to increased lending and investment in key sectors. As the CBN continues to work with financial institutions to meet the requirements, the country’s banking sector is poised for growth and development. The next few months will be critical in determining the outcome of the recapitalization exercise, and the CBN’s efforts will be closely watched by stakeholders and industry observers.
