Economy
CBN concludes bank recapitalisation scheme, as banks raise ₦4.65tn
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.
See Exchange Rate As Naira Gains 0.07%
The Black Market Dollar-to-Naira Exchange Rate for 29th April 2026 Can Be Accessed Below.
NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 29th April 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1400 and buy at ₦1390 on Wednesday 29th April, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1400
Buying Rate ₦1390
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1385
Lowest Rate ₦1367
The Nigerian Exchange Limited fined over 30 listed firms, a cumulative sum of N562.6 million.
The fine came because the firms missed financial filing deadlines, facing penalties, suspensions, and delisting.
This is according to the latest X-Compliance Report, stating that the firms failed to submit 2025 audited financial statements on time.
Listed firms like STACO Insurance, Union Dicon Salt, Pharma-Deko, and FTN Cocoa Processors now risk delisting, with some in restructuring.
Similarly, Aluminium Extrusion and Prestige Assurance are hit by the fine.
Beyond filing delays, the NGX highlighted breaches related to unauthorized disclosures and trading during closed periods. and were cited among PPP companies that violated disclosure rules, attracting regulatory caution.
Additional structural concerns within the NGX, particularly around free float deficiencies. Several companies, including Aluminium Extrusion Industries and Prestige Assurance, fell below required thresholds, prompting regulatory waivers and compliance timelines aimed at restoring market liquidity.
NGX penalises over 30 firms for filing breaches
As of Tuesday morning, April 28, 2026, the exchange rate between the US Dollar and the Nigerian Naira has shown relative stability in the official window while facing slight pressure in the parallel market.
Current Exchange Rates
Official Rate (NAFEM): The Naira is currently trading at an average of ₦1,360.56 per $1. It opened the session at ₦1,359.23 and has seen minor intra-day fluctuations, reaching a high of ₦1,360.19 in early trading.
Parallel Market (Black Market): The Dollar is being exchanged at rates between ₦1,480 and ₦1,495. Retail liquidity remains tight across major hubs in Lagos, Abuja, and Kano.
CBN Rate: The Central Bank of Nigeria’s internal benchmark is currently positioned at ₦1,358.44.
Key Market Indicators
Inflation Rate: 15.38%
Monetary Policy Rate (MPR): 26.5%
Naira Performance: Over the past month, the Naira has strengthened by approximately 1.94%, benefiting from increased global crude oil prices and recent monetary policy adjustments.
Market Note: Despite the official stability, the gap between the official and parallel markets remains roughly ₦120 – ₦135, a spread that traders are monitoring for potential arbitrage risks.
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