CBN completes bank recapitalization, raises N4.65trn from 33 banks
The Central Bank of Nigeria (CBN) has announced the successful completion of its bank recapitalization program as the March 31, 2026 deadline passed. According to a statement from the banking supervision department director, Olubukola Akinwunmi, the process raised a total of N4.65 trillion from 33 financial institutions.
Governor Olayemi Cardoso stated the program has strengthened banks' capital bases, reinforcing financial system resilience to support economic growth and withstand shocks. All 33 banks met revised minimum capital requirements, though a limited number remain subject to ongoing regulatory and judicial processes. Importantly, all banks stay fully operational, ensuring continued customer access.
The recapitalization, implemented alongside an orderly exit from regulatory forbearance, has improved asset quality and balance sheet transparency. The sector maintains capital adequacy ratios above international Basel benchmarks, with minimum thresholds at 10% for regional/national banks and 15% for internationally authorized banks.
This marks a major milestone in Nigeria's financial sector reform. The key takeaway is a more capitalized, stable banking system positioned for growth, with all deposit money banks now meeting enhanced capital buffers.