Banks Raise ₦4.65trn as CBN Ends Recapitalisation Drive

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 over a 24-month period to strengthen the financial system and support economic growth.

The apex bank said the exercise, launched in March 2024, recorded strong participation from both domestic and international investors, reflecting sustained confidence in the sector.

According to the CBN, 72.55 per cent of the capital was sourced locally, while 27.45 per cent came from foreign investors, underscoring Nigeria’s continued attractiveness to global financial markets.

Speaking on the development, the CBN Governor, Olayemi Cardoso, said the recapitalisation had significantly enhanced the capital base of banks, positioning them to withstand economic shocks and support lending to critical sectors of the economy.

He noted that the programme has strengthened financial system resilience and improved overall stability.

The CBN disclosed that 33 banks have met the revised minimum capital requirements, while a few institutions are still undergoing regulatory and judicial processes within established frameworks.

It, however, assured that all banks remain fully operational, with no disruption to services for customers throughout the exercise.

The regulator added that the programme has improved capital adequacy ratios across the sector, keeping them above global Basel benchmarks, while also enhancing asset quality and balance sheet transparency. It noted that the recapitalisation was implemented alongside a gradual exit from regulatory forbearance to ensure long-term sustainability.

To sustain the gains, the CBN said it has strengthened its risk-based supervisory framework, requiring banks to conduct regular stress testing and maintain adequate capital buffers against potential risks.

The bank reiterated its commitment to maintaining a stable, resilient, and transparent financial system capable of supporting Nigeria’s economic ambitions.