CBN: 20 Banks Mobilise ₦4.05 Trillion to Meet New Capital Requirements Ahead of March Deadline
CBN Governor Confirms Strong Capital Mobilisation in Banking Sector
The Central Bank of Nigeria (CBN) has confirmed that 20 deposit money banks have successfully met the revised minimum capital thresholds, collectively raising ₦4.05 trillion ahead of the March 31, 2026 compliance deadline. Governor Olayemi Cardoso disclosed the figures at the close of the apex bank’s 304th Monetary Policy Committee (MPC) meeting in Abuja on February 24, 2026.
Progress of the Recapitalisation Exercise
The recapitalisation programme forms a core element of the CBN’s strategic reform agenda to strengthen the resilience of Nigeria’s banking sector and enhance its capacity to support sustainable economic growth. According to Cardoso, 33 banks have raised additional capital under the exercise, with 20 institutions now compliant with the new minimum capital thresholds. The remaining 13 banks continue to pursue compliance before the regulatory deadline.
Breakdown of Capital Raised
Total capital raised: ₦4.05 trillion (verified and approved as of February 19, 2026)
Domestic mobilisation: ₦2.90 trillion (approximately 71.6%)
Foreign participation: USD 706.84 million (about ₦1.15 trillion, approximately 28.33%)
This blend of domestic and foreign funding underscores broad investor confidence in Nigeria’s banking sector.
Policy Context and Strategic Importance
Revised Capital Requirements
The CBN’s recapitalisation directive, initially announced in March 2024, established new minimum capital bases for licensed banks:
International commercial banks: ₦500 billion
National commercial banks: ₦200 billion
Regional commercial and merchant banks: ₦50 billion
Non-interest national banks: ₦20 billion
Non-interest regional banks: ₦10 billion
These thresholds aim to fortify bank balance sheets, improve shock absorption capacity, and restore confidence in the financial system, particularly in an environment marked by inflationary pressures, foreign exchange volatility, and heightened credit risk.
Strategic Implications
Meeting the capital requirement enhances banks’ ability to:
Support credit expansion to priority sectors, including agriculture, manufacturing, and infrastructure.
Absorb potential financial shocks, reducing systemic risk.
Improve competitive positioning, domestically and regionally.
Attract further domestic and foreign investment, as evidenced by the mix of capital mobilisation.
For policymakers and financial analysts, the pace of capital accumulation is a critical indicator of sectoral stability and a precursor to potential lending growth.
Remaining Compliance Challenges and Outlook
While the progress is significant, 13 banks are still finalising their capital raising strategies. These institutions are reportedly exploring strategic options, including potential mergers, consolidation arrangements, and alternative capital instruments to achieve compliance before the March 31 deadline.
The CBN has also emphasised that depositors’ funds in institutions undergoing regulatory intervention remain secure, with continued supervisory oversight to ensure financial stability throughout the transition.
As the deadline approaches, sustained investor participation, transparent capital mobilisation processes, and disciplined risk management will remain essential to maintaining confidence and ensuring that recapitalisation goals translate into broader economic outcomes.
The mobilisation of ₦4.05 trillion by 20 banks marks a significant milestone in Nigeria’s ongoing banking sector recapitalisation drive. With the March 31, 2026 deadline imminent, the policy’s success will hinge not just on capital raised but on the effectiveness of implementation, regulatory oversight, and banks’ ability to convert enhanced capital buffers into productive lending. For investors and policymakers, the recapitalisation process is a bellwether for financial sector resilience and Nigeria’s macroeconomic trajectory moving into 2026.
