By Seun Ibiyemi
Nigerian banks have mobilised a total of N4.61 trillion in fresh capital under the ongoing recapitalisation programme of the Central Bank of Nigeria (CBN), reflecting robust investor confidence and increased foreign participation in the sector.
This was disclosed in a statement issued on Tuesday following remarks by the CBN Governor, Olayemi Cardoso, at the 4th Annual IMF/AFRITAC West 2 High-Level Executive Forum for Financial Sector Regulation and Supervision held in Abuja.
According to the apex bank, the capital inflow followed the launch of the Banking Sector Recapitalisation Programme in 2024, an initiative aimed at strengthening the resilience of the financial system amid ongoing macroeconomic reforms.
The CBN noted that the proactive policy had begun to yield results, with Nigerian banks raising N4.61 trillion, nearly 27 per cent of which came from foreign investors.
The regulator added that the exercise has not only boosted investor confidence but also supported the expansion of Nigerian banks across African markets.
“The Governor outlined how Nigeria’s regulatory and supervisory reforms exemplify proactive leadership,” the statement said, noting that the recapitalisation drive has inspired similar reforms across the continent.
The latest figure represents an increase of about N560 billion compared to the N4.05 trillion earlier verified and approved by the CBN in February 2026, signalling sustained momentum as the March 31 deadline approaches.
The apex bank emphasised that the programme is designed to position banks to better withstand economic shocks while supporting long-term economic growth.
In addition to recapitalisation, the CBN reiterated its stricter stance on corporate governance and regulatory compliance within the banking sector.
“Our stance on corporate governance is unequivocal: zero tolerance for violations. By ending years of regulatory forbearance, we have reinforced accountability, tightened supervision, and elevated compliance standards across the sector,” Cardoso said.
He also disclosed new measures to enforce credit discipline, particularly targeting large borrowers with non-performing loans. These include restricting access to banking services for defaulting high-value obligors.
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The CBN further stressed the importance of enhanced collaboration among African regulators as cross-border financial activities continue to expand. It noted that deeper financial integration across the continent requires coordinated oversight to mitigate systemic risks.
The bank reaffirmed its commitment to orthodox monetary policy aimed at restoring price stability and strengthening policy credibility, while also advancing reforms in the fintech space to balance innovation with financial system stability.
The high-level forum, organised in collaboration with the International Monetary Fund, brought together central bank officials and financial regulators from six African countries to deliberate on emerging risks, including digital finance, artificial intelligence, and climate-related financial vulnerabilities.
