The Association of Corporate Affairs Managers of Banks (ACAMB) has acknowledged the Nigerian banking sector’s high compliance rate with the ongoing recapitalisation exercise, reporting that over 96 per cent of licensed institutions met the regulatory benchmark ahead of the March 31, 2026 deadline.
The progress follows a directive issued by the Central Bank of Nigeria (CBN) in March 2024, which increased minimum capital thresholds across banking licence categories. Under the revised framework, internationally authorised commercial banks must maintain ₦500 billion, national commercial banks ₦200 billion, and regional commercial banks ₦50 billion. The updated requirements also assign ₦50 billion to merchant banks, while nationally and regionally licensed non-interest banks must raise ₦20 billion and ₦10 billion, respectively.
CBN Governor Olayemi Cardoso confirmed that 32 banks have fully satisfied the updated capital thresholds. He stated that the milestone strengthens the financial system’s capacity to mobilise long-term funding, support productive investment, and contribute to national economic expansion. Cardoso noted that maintaining macroeconomic stability amid domestic and global pressures requires coordinated action between regulatory authorities, financial institutions, and private-sector stakeholders.
Commenting on the exercise, ACAMB President Jide Sipe characterised the compliance figures as evidence of the sector’s operational resilience and adaptability. He credited the central bank’s regulatory oversight and highlighted the alignment of the recapitalisation programme with broader efforts to stabilise Nigeria’s financial architecture. Sipe also referenced the recent designation of the CBN as “Central Bank of the Year 2026” by the London-based Central Banking Awards Committee, linking the recognition to consistent policy implementation. He called for continued regulatory engagement to ensure all institutions meet the revised standards while maintaining systemic interoperability.
The capital adequacy review remains a central component of Nigeria’s financial sector reform strategy, designed to improve risk absorption and expand credit capacity. As the final deadline approaches, industry stakeholders and regulators continue to monitor completion progress, with ACAMB reaffirming its commitment to supporting transparency and sustainable growth initiatives across the banking sector.
