ABUJA, Nigeria — The Central Bank of Nigeria has announced the successful completion of its banking sector recapitalisation programme, with Nigerian banks raising a total of ₦4.65 trillion to strengthen the country’s financial system.
Okay News reports that the recapitalisation exercise, which began in March 2024 and lasted 24 months, attracted strong participation from both local and international investors, reflecting renewed confidence in Nigeria’s banking sector.
According to the apex bank, 72.55 percent of the capital was sourced domestically, while 27.45 percent came from international markets, underscoring sustained global interest in the country’s financial industry.
Governor Olayemi Cardoso said the programme has significantly reinforced the sector’s ability to support economic growth and withstand shocks.
“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,” the CBN Governor said.
The CBN confirmed that 33 banks have met the revised minimum capital requirements introduced under the programme, while a few institutions remain under regulatory and judicial review through established frameworks.
Despite the transition, the bank emphasised that all financial institutions remain fully operational, ensuring uninterrupted access to banking services for customers across the country.
The recapitalisation has also improved key financial indicators, including capital adequacy ratios, which now remain above international Basel standards. Minimum thresholds were maintained at 10 percent for regional and national banks and 15 percent for banks with international licences.
In addition, the apex bank noted that the programme was implemented alongside a gradual exit from regulatory forbearance, helping to improve asset quality and strengthen transparency across bank balance sheets.
To sustain these gains, the CBN said it has enhanced its supervisory approach, requiring banks to conduct regular stress tests and maintain adequate capital buffers under a strengthened risk-based framework.
The central bank also highlighted that the recapitalisation process was executed without disrupting banking operations, ensuring continuity for individuals and businesses throughout the period.
With the programme now concluded, the CBN said Nigeria’s banking system is better positioned to support lending, mobilise savings, and navigate both domestic and global economic challenges.
The regulator reaffirmed its commitment to maintaining a stable, transparent, and resilient financial system capable of inspiring confidence among depositors and investors.
