•Raise ₦4.05tn in verified capital
As the 31 March 2026 deadline for bank recapitalisation fast approaches, 30 Nigerian banks have met the new minimum capital requirements set by the Central Bank of Nigeria (CBN), raising 4.05 trillionin verified and approved capital in the process.
The CBN made this public in a statement issued, Friday, by its Acting Director of Corporate Communications, HakamaSidi-Ali.
According to the apex bank, the recapitalisation exercise, launched in 2024 to strengthen the resilience and capacity of Nigeria’s financial system, has continued to record steady progress across the industry.
“As of March 6, 2026, the recapitalisation exercise is progressing steadily. Thirty banks have met the new minimum capital requirements applicable to their respective licenceauthorisations,” the statement said.
The CBN added that in total, 33 banks have successfully raised additional capital through rights issues, initial public offerings and private placements as part of the programme.
It explained that the capital positions of the remaining banks are currently undergoing routine verification before final confirmation of compliance within the stipulated recapitalisation timeline.
“The capital positions of the remaining banks are currently undergoing the Central Bank’s routine verification process ahead of final confirmation of compliance within the recapitalisation timeline,” the statement noted.
The regulator said the verification process forms part of its supervisory responsibility to ensure that the funds raised by banks align with regulatory standards and prudential requirements.
The recapitalisationprogramme was introduced in 2024 as part of broader reforms aimed at strengthening the stability, resilience and long-term capacity of Nigeria’s banking sector to support economic development.
Under the policy, banks were required to raise fresh capital to meet revised minimum thresholds depending on the category of their operating licences.
The new capital requirements include:
₦500 billion – International commercial banks
₦200 billion – National commercial banks
₦50 billion – Regional banks
₦20 billion – National non-interest banks
₦10 billion – Regional non-interest banks
The move is also part of efforts to boost investor confidence and ensure that financial institutions maintain adequate buffers to absorb potential economic risks.
Since the policy was announced, several banks have approached the capital market to raise funds through public offers, rights issues and private placements, while others undertook corporate restructuring and strategic capital raising initiatives to meet regulatory benchmarks before the deadline.
The CBN, however, assured stakeholders that the banking system remains stable despite the ongoing capital adjustments.
“The Nigerian banking system remains stable and sound. The recapitalisationprogramme remains firmly on track and will further strengthen the capacity of the banking sector to support households, businesses and sustainable economic growth,” the statement added.
Earlier, the CBN Governor, Olayemi Cardoso, disclosed that Nigerian banks had raised ₦4.05 trillion in verified and approved capital ahead of the recapitalisation deadline.
“As of February 19, 2026, total verified and approved capital raised stands at ₦4.05 trillion,” Cardoso said.
According to him, ₦2.90 trillion (71.67 per cent) of the funds were mobilised domestically, while ₦1.15 trillion (28.33 per cent) came from foreign investors.
“This balance represents a mix of domestic mobilisation and foreign participation, signalling broad investor engagement and confidence in the sector,” he added.
Banks That Have Met the Recapitalisation Threshold
The banks reported to have met the new capital requirement include:
Commercial Banks
Access Bank Plc
Zenith Bank Plc
Guaranty Trust Bank Plc
United Bank for Africa Plc
First Bank of Nigeria Limited
Fidelity Bank Plc
Stanbic IBTC Bank Plc
Ecobank Nigeria Limited
Wema Bank Plc
Sterling Bank Plc
Union Bank of Nigeria Plc
Keystone Bank Limited
Globus Bank Limited
Premium Trust Bank Limited
Providus Bank Limited
Citibank Nigeria Limited
Standard Chartered Bank Nigeria Limited
Titan Trust Bank Limited
Polaris Bank Limited
Non-Interest Banks
Jaiz Bank Plc
TAJ Bank Limited
Lotus Bank Limited
Merchant Banks
FSDH Merchant Bank Limited
Coronation Merchant Bank Limited
Nova Merchant Bank Limited
Rand Merchant Bank Nigeria Limited
Merchant Bank Limited
Other Licensed Banks / Specialised Institutions
Parallex Bank Limited
SunTrust Bank Nigeria Limited
Optimus Bank Limited
The apex bank noted that although 33 banks have raised new capital, the capital positions of three banks are still undergoing verification before final confirmation of compliance.
