By Seun Ibiyemi
The Central Bank of Nigeria (CBN) has announced the successful completion of its banking sector recapitalisation programme launched in March 2024, with Nigerian banks raising a total of ₦4.65 trillion in fresh capital.
The apex bank disclosed this in a statement issued 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 CBN, the 24-month programme significantly strengthened the resilience of the financial system and enhanced banks’ capacity to support economic growth.
The statement noted that the exercise 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 institutions remain under ongoing regulatory and judicial review within established frameworks.
It, however, assured that all banks remain fully operational, ensuring uninterrupted access to banking services for customers.
The apex bank added that the recapitalisation strengthened Capital Adequacy Ratios (CAR) across the sector, with levels remaining above international Basel benchmarks.
Minimum CAR thresholds were maintained at 10 per cent for regional and national banks, and 15 per cent for banks with international licences.
The bank explained that the programme, implemented alongside a gradual exit from regulatory forbearance, had improved asset quality and reinforced balance sheet transparency, thereby boosting overall financial system stability.
To sustain the gains, the CBN said it has enhanced its risk-based capital adequacy framework, mandating banks to conduct routine stress testing and maintain sufficient capital buffers.
It also noted that key regulatory measures, including prudential guidelines and supervisory frameworks, would continue to undergo periodic reviews to strengthen governance, risk management, and sector resilience.
The apex bank emphasised that the recapitalisation exercise was carried out without disrupting banking operations, ensuring continuous access to financial services for individuals and businesses.
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Commenting on the development, the CBN Governor, Olayemi Cardoso, said the programme had significantly strengthened the capital base of Nigerian banks and positioned the financial system to better 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 broader public.
