The Central Bank of Nigeria (CBN) has announced the successful conclusion of the banking sector recapitalisation programme initiated in March 2024.
According to the bank, “over the 24-month period, Nigerian banks raised a total of ₦4.65 trillion in new capital, strengthening the resilience of the financial system and enhancing its capacity to support the economy.”
This is contained in a statement co- signed by the bank’s Director of Banking Supervision and the acting Director of Corporate Communications Dr. Olubukola Akinwunmi and Hakama Sidi Ali(Mrs) respectively.
“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”, the statement said
Governor Olayemi Cardoso commented: “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.”
The CBN confirmed that 33 banks have met the revised minimum capital requirements
established under the programme. 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,” the Bankers bank says.
The programme has strengthened capital adequacy ratios (CAR), with the sector maintaining levels above international Basel benchmarks. Minimum CAR thresholds remain at 10% for regional and national banks and 15% for banks with international authorization.
The recapitalisation, implemented alongside an orderly exit from regulatory forbearance, has improved asset quality, reinforcing balance sheet transparency and overall financial system.
To safeguard these gains, the CBN says it has strengthened its risk-based capital adequacy
framework, requiring banks to conduct regular stress testing across defined scenarios and
maintain appropriate capital buffers.
Key regulatory measures, including prudential guidelines and the supervisory framework, are subject to periodic review to support ongoing strengthening of governance, risk management, and sector resilience.
The bank emphasised that the recapitalisation programme was carried out without disruption to banking services, ensuring continuous access for individuals and businesses throughout the process.
The apex Bank assured that the successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks.
The Central Bank of Nigeria also reaffirmed that it “remains committed to maintaining a stable, transparent, and resilient financial system that inspires confidence among depositors, investors, and the broader public, and to advancing the sustainability of the nation’s financial architecture