Nigeria’s central bank says 30 lenders have met new capital thresholds as banking sector recapitalisation continues across the industry.
The Central Bank of Nigeria (CBN) has confirmed that 30 banks have met the revised minimum capital requirements introduced under its ongoing banking sector recapitalisation programme.
According to a statement issued by Hakama Sidi-Ali, Acting Director of Corporate Communications at the CBN, a total of 33 banks have raised fresh capital through rights issues, initial public offerings, and private placements as part of the exercise.
The recapitalisation policy, launched in 2024, requires financial institutions to strengthen their capital base based on their licence categories. The regulator noted that the remaining banks are currently undergoing routine verification before final confirmation of compliance.
CBN Governor Olayemi Cardoso previously disclosed that Nigerian banks had collectively raised about N4.05 trillion to meet the March 31 deadline.
Authorities say the reform aims to strengthen financial stability, boost lending capacity, and position Nigeria’s banking sector to better support economic growth and absorb future shocks.
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