ACAMB Commends Banks For Disciplined Execution Of CBN Recapitalization Exercise
The Association of Corporate Affairs Managers of Banks (ACAMB) has commended the Nigerian banking industry for achieving over 96% compliance with the Central Bank of Nigeria’s recapitalization mandate, demonstrating exceptional resilience and commitment to financial stability. The compliance milestone comes ahead of the March 31, 2026 deadline, following the CBN’s March 2024 circular introducing revised minimum capital requirements across banking tiers.
ACAMB President Babajide Sipe praised the collective effort of stakeholders and the regulator’s foresight. “The Nigerian banking industry has once again demonstrated its innate strength and resilience. Achieving over 96% compliance ahead of the recapitalization deadline is no small feat; it is an indication of the capacity of our financial institutions to adapt and overcome,” Sipe said.
Commercial banks with international affiliations must now maintain N500 billion, while national and regional commercial banks require N200 billion and N50 billion respectively. Merchant banks, non-interest banks with national licenses, and regional non-interest banks face requirements of N50 billion, N20 billion, and N10 billion respectively.
According to CBN Governor Olayemi Cardoso, 32 banks have already satisfied the new capital requirements. “This achievement has significantly strengthened the resilience and capacity of the Nigerian banking system, positioning it to effectively mobilize long-term capital, support productive investment, and play its critical role in enabling the transition towards a $1 trillion economy,” Cardoso stated.
Sipe also congratulated the CBN on its recognition as “Central Bank of the Year 2026” by the London-based Central Banking Awards Committee, acknowledging Governor Cardoso’s visionary leadership and transformational reforms reshaping Nigeria’s financial landscape. ACAMB urged the regulator to continue supporting all institutions through the completion process, ensuring stability and interconnectedness of the financial system remain intact.
The association reaffirmed its commitment to promoting transparency, stability, and sustainable growth across the Nigerian banking sector.
