The Central Bank of Nigeria (CBN) has confirmed that sixteen banks have successfully met the recapitalisation requirements under its ongoing banking sector reforms. The apex bank announced this milestone following a detailed review of banks’ compliance with the minimum capital thresholds set for different categories of financial institutions.
CBN Governor Olayemi Cardoso stated that the recapitalisation programme is progressing steadily and aligns with the regulator’s long-term goal of strengthening Nigeria’s banking system, ensuring financial stability, and supporting sustainable economic growth. Designed for domestic, regional, and international banks, the programme aims to reinforce balance sheets, improve the resilience of banks, and expand their lending capacity to critical sectors of the economy.
Under the new regulatory framework, banks with international authorisation are required to raise their paid-up share capital to ₦500 billion, while banks with national authorisation must meet ₦200 billion. Regional banks are expected to maintain a minimum capital of ₦50 billion, with thresholds for merchant banks and non-interest banks varying according to licence type.
The banks confirmed by the CBN to have met the recapitalisation thresholds are:
- Access Bank
- Zenith Bank
- Guaranty Trust Bank (GTBank)
- Wema Bank
- Jaiz Bank
- Stanbic IBTC Bank
- Premium Trust Bank
- Providus Bank
- Lotus Bank
- Greenwich Merchant Bank
- Globus Bank
- Polaris Bank
- Unity Bank
- Fidelity Bank
- Union Bank of Nigeria (including merged entities)
- Titan Trust Bank
CBN officials noted that the compliance of these sixteen banks reflects the sector’s growing resilience and readiness to meet future financial and economic challenges. The recapitalisation programme is expected to improve credit availability, particularly for trade, infrastructure, agriculture, and small-to-medium enterprises, while positioning Nigerian banks to compete more effectively at both regional and international levels.
Governor Cardoso emphasised that, although sixteen banks have met the requirements, other institutions are still working to raise additional capital. The central bank will continue monitoring progress closely, urging all banks to meet their respective thresholds before the March 2026 deadline.
Analysts observe that the recapitalisation initiative is likely to strengthen investor confidence, reduce systemic risks, and create a more robust and competitive banking sector. With a stronger capital base, banks are better positioned to absorb economic shocks, fund large-scale projects, and support Nigeria’s long-term development objectives.
The CBN reiterated its commitment to maintaining oversight, promoting transparency, and fostering a stable financial system capable of withstanding internal and external economic pressures while facilitating inclusive growth across the country.
