The Central Bank of Nigeria (CBN) has announced the successful conclusion of the banking sector recapitalisation programme initiated in March 2024.
Over the 24 months, Nigerian banks raised a total of ₦4.65 trillion in new capital to strengthen the resilience of the financial system and enhance its capacity to support the economy.
The programme recorded strong participation from both domestic and international investors, with 72.55% of capital sourced locally and 27.45% from international markets, reflecting sustained confidence in the Nigerian banking sector.
Speaking on the successful recapitalization exercise, the Governor of the CBN, Mr. Olayemi Cardoso said: “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 confirmed that 33 banks met the revised minimum capital requirements established under the programme and that a limited number of institutions remain subject to ongoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks.
All banks remain fully operational, ensuring continued access to banking services for customers.
According to him, the programme has strengthened capital adequacy ratios (CAR), with the sector maintaining levels above international Basel benchmarks, while minimum CAR thresholds remain at 10% for regional and national banks and 15% for banks with international authorization.
He added that the recapitalisation, implemented alongside an orderly exit from regulatory forbearance, has improved asset quality, reinforcing balance sheet transparency and overall financial system stability.
GIK/APA