By Nworisa Michael
The Central Bank of Nigeria has announced the successful completion of its banking sector recapitalisation programme launched in March 2024, with Nigerian banks raising a total of N4.65 trillion in fresh capital.
The development was disclosed in a statement issued in Abuja and jointly signed by Dr Olubukola Akinwunmi and Mrs Hakama Sidi-Ali.
According to the apex bank, the 24-month exercise recorded strong investor participation, with 72.55 per cent of the funds sourced locally, while 27.45 per cent came from international markets an indication of sustained confidence in Nigeria’s banking sector.
The CBN confirmed that 33 banks have met the revised minimum capital requirements under the programme, while a few others are still undergoing regulatory and judicial processes within established frameworks. It assured that all banks remain fully operational, with uninterrupted access to services for customers.
The regulator noted that the exercise has strengthened the sector’s Capital Adequacy Ratio (CAR), maintaining levels above global Basel standards. Current thresholds stand at 10 per cent for regional and national banks, and 15 per cent for banks with international licences.
It added that the recapitalisation, combined with the phased withdrawal of regulatory forbearance, has improved asset quality, enhanced transparency, and reinforced overall financial system stability.
To sustain these gains, the CBN said it has further strengthened its risk-based capital framework, mandating regular stress testing and the maintenance of adequate capital buffers by banks. Regulatory guidelines and supervisory measures, it added, will continue to undergo periodic review to support governance, risk management, and sector resilience.
Commenting on the development, the CBN Governor, Olayemi Cardoso, said the programme has significantly boosted the capital base of Nigerian banks, positioning the financial system to better support economic growth and withstand both domestic and global shocks.
He reiterated the apex bank’s commitment to maintaining a stable, transparent, and resilient financial system that inspires confidence among depositors, investors, and the wider public.
