The Central Bank of Nigeria (CBN) has announced that 30 banks have so far met the new minimum capital requirements under its ongoing recapitalisation programme.
The CBN introduced the policy in 2024 to strengthen the resilience of the financial system and enhance its capacity to support Nigeria’s economic growth.
In a statement on Friday, the apex bank confirmed that the exercise is progressing steadily, with 33 banks raising additional capital through rights issues, public offers, and private placements.
“Thirty (30) banks have met the new minimum capital requirements applicable to their respective licence authorisations,” the statement signed by Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, read in part.
She noted that the capital positions of the remaining banks are currently undergoing routine verification.
“The recapitalisation programme remains firmly on track and will further strengthen the capacity of the banking sector to support households, businesses, and sustainable economic growth,” Mrs. Sidi Ali added.
The CBN reassured the public that the Nigerian banking system remains stable and sound, pledging continued supervisory engagement to ensure full compliance with prudential requirements.
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