The Central Bank of Nigeria (CBN) has concluded the banking sector recapitalisation scheme initiated in March 2024, with banks raising ₦4.65 trillion in new capital, strengthening the resilience of the financial system and enhancing its capacity to support the economy.
The apex bank said the recapitalisation scheme recorded strong participation from both domestic and international investors, with 72.55% of capital sourced locally and 27.45% from international markets.
CBN Governor, Yemi Cardoso said the success reflects the
sustained confidence in the Nigerian banking sector.
This was contained in a statement jointly signed by Olubukola A. Akinwunmi, director banking supervision and Hakama Sidi Ali, acting director, corporate communications.
Cardoso said the “recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and
ensuring it is well-positioned to support economic growth and withstand domestic and
external shocks.”
Furthermore, the CBN confirmed that 33 banks met the revised minimum capital requirements
established under the programme.
However, it revealed that a limited number of institutions remain subject to ongoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks.
The statement said all banks remain fully operational, ensuring continued access to banking services for
customers.
The apex bank added that the programme has strengthened capital adequacy ratios, with the sector maintaining
levels above international Basel benchmarks.
Minimum capital adequacy ratio thresholds, it explained, remain at 10% for regional and national banks and 15% for banks with international authorization.
“The recapitalisation, implemented alongside an orderly exit from regulatory forbearance, has improved asset quality, reinforcing balance sheet transparency and overall financial system.
“To safeguard these gains, the CBN has strengthened its risk-based capital adequacy framework, requiring banks to conduct regular stress testing across defined scenarios and
maintain appropriate capital buffers,” the statement said.
It disclosed that key regulatory measures, including prudential guidelines and the supervisory framework, are
subject to periodic review to support ongoing strengthening of governance, risk management, and sector resilience.
The CBN explained that the recapitalisation programme was carried out without disruption to banking services,
ensuring continuous access for individuals and businesses throughout the process.
“The successful completion of the programme establishes a stronger and more resilient
banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks.
“The Central Bank of Nigeria remains committed to maintaining a stable, transparent, and resilient financial system that inspires confidence among depositors, investors, and the broader public, and to advancing the sustainability of the nation’s financial architecture,” the bank assured.