The Central Bank of Nigeria (CBN) has confirmed that 33 banks have successfully met the revised minimum capital requirements under its recently concluded recapitalisation programme, raising a total of N4.65 trillion over the 24-month period.
The apex bank made the announcement in a press release published on its website on April 1, 2026, describing the achievement as a major milestone that has significantly strengthened the resilience of the Nigerian banking system and enhanced its capacity to support economic growth.
According to the CBN, 72.55% of the capital raised came from domestic sources, while 27.45% was sourced from international investors, reflecting sustained confidence in the Nigerian banking sector among both local and foreign participants.
The recapitalisation exercise, which ran from April 1, 2024, to March 31, 2026, required banks with international licences to raise N500 billion, national banks N200 billion, and regional banks N50 billion. Non-interest banks were required to meet N20 billion for national authorisation and N10 billion for regional authorisation.
The CBN noted that the programme was executed without disruption to banking operations. A limited number of institutions that did not meet the targets remain subject to ongoing regulatory and judicial processes within established supervisory and legal frameworks. All banks, however, continue to operate normally, ensuring uninterrupted access to services for customers.
One bank that fell short of the requirement has been downgraded to a lower tier, while Unity Bank is in the process of merging with Providus Bank (which has already met its target). Union Bank’s acquisition by Titan Trust Bank remains under judicial review.
The strong domestic participation, accounting for nearly three-quarters of the total capital raised, highlights growing investor confidence and the increasing role of local capital in strengthening the financial system. Analysts observed heightened retail and high-net-worth individual involvement across various capital-raising exercises.
CBN Governor Olayemi Cardoso had earlier described the recapitalisation as a critical step toward building a more robust and resilient banking sector capable of supporting Nigeria’s economic ambitions, including the target of becoming a $1 trillion economy.
With the capital-raising phase now largely completed, attention is expected to shift toward how the new funds will be deployed to drive lending, support key sectors of the economy, and deliver improved returns to shareholders while maintaining strong risk management practices.
The successful completion of the programme marks one of the most significant transformations in Nigeria’s banking industry in recent years, aimed at enhancing financial stability, increasing lending capacity, and improving the sector’s ability to withstand economic shocks.
