By Oluwakemi Kindness
The Central Bank of Nigeria CBN has announced the successful conclusion of its banking sector recapitalisation programme, with Nigerian banks raising a total of ₦4.65 trillion in new capital.
The exercise, which began in March 2024, is aimed at strengthening the financial system and boosting banks’ capacity to support economic growth.
Strong Investor Confidence
The CBN said the programme attracted significant interest from both local and foreign investors.
*72.55%* of the capital was sourced domestically
*27.45%* came from international markets
This, the apex bank noted, reflects sustained confidence in Nigeria’s banking sector.
33 Banks Meet Capital Requirements
According to the CBN in a statement on Wednesday, 33 banks have met the revised minimum capital requirements.
A few others are still undergoing regulatory and judicial processes, but all banks remain fully operational, ensuring uninterrupted services for customers.
Improved Financial Stability
CBN Governor, Olayemi Cardoso, said the recapitalisation has strengthened banks’ resilience.
He noted that the sector’s Capital Adequacy Ratio (CAR) now exceeds global Basel standards:
*10% minimum* for regional and national banks
*15% minimum* for international banks
The apex bank also introduced stronger regulatory measures, including:
* Risk-based supervision
* Mandatory stress testing
* Periodic review of prudential guidelines
These steps are designed to improve governance, transparency, and risk management across the sector.
No Disruption to Banking Services
The CBN emphasised that the recapitalisation process was completed without disrupting banking operations.
Customers and businesses maintained full access to financial services throughout the exercise.
Outlook: Stronger Support for Economy
With stronger capital buffers, Nigerian banks are now better positioned to:
* Increase lending
* Support businesses
* Withstand economic shocks
The CBN reaffirmed its commitment to maintaining a stable, transparent, and resilient financial system.
