FINAL PHASE: ₦4.05tn Raised as 20 Banks Meet CBN Recapitalisation Threshold
Nigeria’s banking sector recapitalisation programme has entered its decisive phase, with a total of ₦4.05 trillion in verified capital raised and 20 deposit money banks already meeting the new minimum capital thresholds set by the Central Bank of Nigeria (CBN).
CBN Governor, Olayemi Cardoso, disclosed this on Tuesday at the close of the 304th Monetary Policy Committee (MPC) meeting in Abuja, noting that compliance momentum is accelerating as the March 31, 2026 deadline approaches.
According to Cardoso, an additional 13 banks are at advanced stages of their capital-raising processes and are expected to conclude within the regulatory timeframe.
He explained that institutions still finalising their recapitalisation plans are exploring a range of strategic options, including mergers and consolidation, where appropriate, to ensure full compliance before the cut-off date.
As of February 19, 2026, the CBN confirmed that ₦4.05 trillion had been successfully verified and approved under the recapitalisation programme.
A breakdown of the capital inflow shows that ₦2.90 trillion, representing 71.67 per cent, was mobilised domestically, while $706.84 million — equivalent to approximately ₦1.15 trillion — accounted for 28.33 per cent, reflecting foreign investor participation.
The Governor described the domestic-foreign mix as evidence of broad-based investor engagement and renewed confidence in Nigeria’s banking sector reforms.
Cardoso also addressed concerns regarding banks currently under regulatory intervention, stating that specific legal and structural considerations influence the sequencing of recapitalisation measures for such institutions.
He assured stakeholders that depositor funds in affected banks remain secure and that operations continue under strict regulatory supervision.
Based on the pace of compliance and ongoing capital-raising activity, the apex bank expressed optimism that substantial alignment with the new capital requirements would be achieved by the March 2026 deadline.
Under the recapitalisation framework announced by the CBN, commercial banks with international authorisation are required to meet a minimum capital base of ₦500 billion. National commercial banks must raise ₦200 billion, while regional commercial banks and merchant banks are expected to meet ₦50 billion thresholds. For non-interest banks, the requirements are ₦20 billion for national licences and ₦10 billion for regional licences.
The recapitalisation exercise is designed to strengthen banks’ capacity to support large-scale financing, enhance resilience against macroeconomic shocks, and position the sector to drive sustainable economic growth.
With over ₦4 trillion already mobilised and the majority of institutions either compliant or nearing completion, the programme now enters its final stretch a critical test of market depth, investor confidence, and regulatory resolve.