20Nigerian banks raise N4.05trn in CBN recapitalization
Central Bank Governor Olayemi Cardoso announced 20 Nigerian banks have met new minimum capital requirements, raising N4.05 trillion as part of the March 31, 2026 deadline. 71.67% (N2.90trn) came from domestic sources, while 28.33% (N1.15trn) from foreign investors. The recapitalization strengthens the financial system to support economic growth. Meanwhile, the MPC reduced the benchmark rate by 50 basis points to 26.5%. Will this capital boost improve banking sector stability and economic growth prospects?