The Central Bank of Nigeria (CBN) has announced the conclusion of its banking sector recapitalisation programme, with Nigerian banks raising a total of ₦4.65 trillion to strengthen financial system resilience.
The apex bank said the 24-month exercise, which began in March 2024, recorded strong participation from both domestic and international investors, with 72.55 per cent of the capital sourced locally and 27.45 per cent from foreign markets.
CBN Governor, Olayemi Cardoso, said the programme had reinforced the capital base of banks, positioning the sector to better support economic growth and withstand both domestic and external shocks.
According to the statement from the apex bank jointly signed by Hakama Sidi-Ali acting director of Public Relations and Olubukola Akinwunmi Director of Banking Supervision, 33 banks have met the revised minimum capital requirements set under the programme, while a few others remain subject to ongoing regulatory and judicial processes.
The bank, however, assured that all financial institutions remain fully operational, with no disruption to banking services recorded during the exercise.
The CBN added that the recapitalisation has improved capital adequacy ratios across the sector, keeping them above international Basel benchmarks. Minimum thresholds were retained at 10 per cent for regional and national banks, and 15 per cent for banks with international authorisation.
It noted that the exercise, alongside an orderly exit from regulatory forbearance, has enhanced asset quality and strengthened balance sheet transparency within the system.
To sustain these gains, the apex bank said it has reinforced its risk-based supervisory framework, requiring lenders to undertake routine stress testing and maintain adequate capital buffers.
The CBN reaffirmed its commitment to a stable and resilient financial system, capable of supporting lending, mobilising savings, and withstanding economic shocks.
