The Central Bank of Nigeria has announced the successful completion of the banking sector recapitalisation programme launched in March 2024, revealing that Nigerian banks raised a total of N4.65 trillion in new capital over a 24-month period.
The development was disclosed in a statement issued on Wednesday in Abuja and jointly signed by Dr. Olubukola Akinwunmi, Director of Banking Supervision, and Mrs. Hakama Sidi-Ali, Acting Director of Corporate Communications.
According to the apex bank, the recapitalisation exercise significantly strengthened the resilience of the financial system and enhanced its capacity to support economic growth. It added that the programme attracted strong participation from both domestic and international investors, with 72.55 per cent of the capital sourced locally and 27.45 per cent from foreign markets, reflecting sustained confidence in Nigeria’s banking sector.
The CBN confirmed that 33 banks met the revised minimum capital requirements set under the programme, while a few others remain subject to ongoing regulatory and judicial processes being handled through established frameworks. It, however, assured that all banks remain fully operational, guaranteeing uninterrupted access to banking services.
The bank further stated that the programme improved Capital Adequacy Ratios across the sector, maintaining levels above international Basel standards. It noted that minimum thresholds remain at 10 per cent for regional and national banks, and 15 per cent for banks with international licences.
It added that the recapitalisation, alongside the orderly exit from regulatory forbearance, had enhanced asset quality, strengthened balance sheet transparency, and improved overall financial system stability.
To sustain these gains, the apex bank said it had reinforced its risk-based capital adequacy framework, mandating banks to carry out regular stress testing and maintain sufficient capital buffers under varying economic scenarios. It also noted that key regulatory tools, including prudential guidelines and supervisory frameworks, would continue to undergo periodic reviews to bolster governance, risk management, and sector resilience.
The CBN emphasised that the exercise was completed without disrupting banking operations, ensuring continuous service delivery to individuals and businesses throughout the period.
Speaking on the development, the Governor of the CBN, Olayemi Cardoso, said the recapitalisation had strengthened the capital base of Nigerian banks and positioned the financial system to support economic growth while withstanding both domestic and global shocks.
He reiterated the bank’s commitment to maintaining a stable, transparent, and resilient financial system that inspires confidence among depositors, investors, and the general public.
