Most Nigerian banks have successfully met the Central Bank of Nigeria (CBN) recapitalisation deadline, with regulatory attention now turning to a handful of lenders yet to comply.
The deadline, which expired on March 31, 2026, marked the culmination of a two-year reform programme introduced by the apex bank to strengthen the country’s financial system and position it for long-term economic growth.
Findings indicate that the majority of deposit money banks raised fresh capital through rights issues, public offerings, and private placements, enabling them to meet the new minimum capital thresholds set by the CBN.
Under the recapitalisation framework announced in 2024, commercial banks with international licences were required to raise a minimum of N500 billion, while national and regional banks were expected to meet N200 billion and N50 billion thresholds respectively.
The exercise, regarded as the most ambitious banking reform since 2004, was designed to reinforce financial stability amid rising inflation, currency volatility, and increasing credit demands in the Nigerian economy.
Industry data suggests that a significant number of banks crossed the regulatory hurdle ahead of the deadline, leaving only a few institutions still undergoing verification or exploring options to meet compliance requirements.
Attention has now shifted to these non-compliant lenders, which may be compelled to consider strategic options such as mergers and acquisitions, licence downgrades, or fresh capital injections to remain in operation.
The CBN has consistently assured depositors that the banking system remains safe and stable, stressing that no bank would be allowed to fail in a manner that threatens customers’ funds.
Analysts say the recapitalisation drive is expected to produce stronger, more resilient financial institutions capable of supporting Nigeria’s ambition of building a $1 trillion economy.
However, they also note that the final phase of the exercise could trigger consolidation within the sector, as weaker banks seek survival through mergers or restructuring.
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