• Central Bank of Nigeria said 20 commercial banks have met new minimum capital requirements, with the deadline set for March 31, 2026.

• Banks have raised 4,050 billion naira ($2.94 billion), including 2,900 billion naira from local investors and 1,150 billion naira from foreign investors.

• The CBN increased minimum capital thresholds in March 2024 to strengthen financial stability and support larger-scale lending.

The CBN said in a statement released after its monetary policy committee meeting on Wednesday, Feb. 25, that 20 banks have fully met the new capital thresholds. The bank added that 13 other lenders remain at advanced stages of recapitalization and expect to complete the process on time. The central bank said the progress confirms steady efforts toward a stronger and better-capitalized financial system.

The CBN also disclosed that banks have raised a cumulative 4,050 billion naira, equivalent to about $2.94 billion, under the recapitalization program. Local investors contributed 2,900 billion naira, or 71.6% of the total, while foreign investors provided 1,150 billion naira. The monetary policy committee said the recapitalization process “will strengthen the resilience of the financial system and improve its capacity to support sustainable economic growth.”

The CBN raised minimum capital requirements for commercial banks in March 2024. The regulator now requires internationally licensed banks to hold 500 billion naira in capital, compared with 200 billion naira previously. It set the threshold at 50 billion naira for banks operating nationally under a regional license. It required national Islamic banks to hold at least 20 billion naira, while regional Islamic banks must hold 10 billion naira.

Banks received two years to meet the new standards. CBN Governor Olayemi Cardoso said on Sept. 23, 2025, that 14 of the country’s 36 lenders had already met the requirements. Banks including Access Bank, Zenith Bank, Ecobank Nigeria, Wema Bank, Stanbic IBTC Bank and Guaranty Trust Bank have already reached the required capital levels.

At the same time, smaller banks may pursue mergers and acquisitions to avoid license revocation.

The CBN justified the capital increase as a measure to strengthen the banking system against external shocks and to enable larger-scale financing, particularly in the energy and infrastructure sectors.

Walid Kéfi