The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso announced on Tuesday, February 24, 2026, that 20 banks have fully met the new minimum capital requirements, raising a collective N4.05 trillion ahead of the March 31, 2026 deadline. This milestone, shared at the 304th Monetary Policy Committee meeting in Abuja, marks a pivotal step in strengthening Nigeria’s banking resilience amid economic reforms.
The recapitalization exercise, launched in March 2024, demands N500 billion for international commercial banks, N200 billion for national ones, N50 billion for regional and merchant banks, N20 billion for national non-interest banks, and N10 billion for regional non-interest operations. Cardoso highlighted that a total of 33 banks have injected fresh capital, with the remaining 13 in advanced stages, blending local and foreign investments which is expected to signal robust investor trust.
These first-compliant banks, like tier-1 giants, can amplify narratives of stability and innovation, positioning themselves as economic anchors via targeted campaigns on financial inclusion and growth. Cardoso noted that the balanced funding mix “reflects growing investor confidence,” urging sustained momentum.
As more banks race to comply, these capital raises are expected by stakeholders to translate into compelling brand equity, showcasing resilience against inflation, devaluation, and reforms which will set the stage for bolder lending and market expansion in Nigeria’s rebounding economy.
Although various media reports say First Bank of Nigeria, Guarantee Trust Bank and Stanbic IBTC among others, have met the recapitalization threshold, no official list explicitly naming the exact 20 compliant banks has been released by the CBN.
