The Central Bank of Nigeria has completed its banking sector recapitalization exercise, securing 4.65 trillion naira from 33 financial institutions by the March 31, 2026 deadline. The initiative, which began in March 2024, aimed to modernize the country’s financial architecture, enhance lending capacity, and align commercial banks with updated regulatory benchmarks.
Olubukola Akinwunmi, director of the CBN’s Department of Banking Supervision, confirmed the conclusion in a statement released Wednesday. Central bank records indicate that 72.55 percent of the newly injected capital originated from domestic investors, while the remaining share was sourced from international markets. Thirty-three licensed institutions successfully met the revised minimum capital requirements. A small number of entities remain under active regulatory and judicial review, with the central bank addressing these cases through established supervisory and legal protocols. All commercial banks continue normal operations, ensuring uninterrupted access to financial services across the country.
Central Bank Governor Olayemi Cardoso noted that the program has significantly fortified the sector’s balance sheets. Implemented alongside a structured exit from previous regulatory forbearance, the process has improved asset classification and strengthened overall financial stability. Industry-wide capital adequacy ratios now consistently exceed international Basel standards. Regional and national banks maintain a minimum threshold of 10 percent, while institutions holding international authorization are required to sustain a 15 percent floor.
The expanded capital base is designed to increase credit availability for key economic sectors and improve the banking system’s capacity to absorb market volatility. “The recapitalization program has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks,” Cardoso said.
Following the program’s closure, financial regulators will shift focus to routine supervision, stress testing, and continuous monitoring of liquidity and asset quality. The updated financial framework establishes a foundation for sustained private sector financing, infrastructure development, and broader macroeconomic stability.
