THE Central Bank of Nigeria (CBN) has announced the successful completion of its banking sector recapitalisation programme, revealing that 33 banks have met the revised minimum capital requirements after raising a combined ₦4.65 trillion.
This was contained in a statement sent to News Point Nigeria jointly signed by the CBN’s Director of Banking Supervision, Olubukola Akinwunmi, and Acting Director of Corporate Communications, Hakama Sidi Ali, on Wednesday.
The exercise, which began in March 2024 and lasted 24 months, drew significant participation from both domestic and foreign investors, underlining sustained confidence in Nigeria’s financial system.
According to the financial regulator, 72.55 per cent of the funds were sourced locally, while 27.45 per cent came from international markets.
CBN Governor Olayemi Cardoso said the programme has positioned the banking sector for greater resilience and economic support.
“The recapitalisation programme 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,” he said.
The financial regulator noted that the recapitalisation exercise has significantly improved the capital adequacy ratios (CAR), with the sector maintaining levels above international Basel benchmarks.
Under the framework, minimum CAR thresholds remain at 10 per cent for regional and national banks and 15 per cent for banking institutions with international licences.
While 33 banks have successfully met the new requirements, CBN disclosed that a limited number of institutions are still undergoing regulatory and judicial processes.
It, however, assured that all banks remain fully operational and continue to provide uninterrupted services to customers.
The regulator added that the programme, implemented alongside a gradual exit from regulatory forbearance, has also improved asset quality and strengthened balance sheet transparency across the industry.
To consolidate the gains, CBN said it has strengthened its risk-based capital adequacy framework, requiring banks to conduct regular stress tests and maintain adequate capital buffers under different economic scenarios.
It added that prudential guidelines and supervisory measures would continue to be reviewed periodically to enhance governance, risk management, and overall sector stability.
Despite the scale of the recapitalisation, the apex bank emphasised that the process was executed without any disruption to banking operations, ensuring continuous access to financial services for individuals and businesses.
The successful conclusion of the programme, the CBN said, marks a major milestone in building a more resilient banking system capable of supporting lending, mobilising savings, and withstanding both domestic and global shocks.
“The Central Bank of Nigeria remains committed to maintaining a stable, transparent, and resilient financial system that inspires confidence among depositors, investors, and the broader public,” the statement added.