Banks Recapitalisation; 14 banks meet CBN recapitalisation target, says Governor Cardoso
The Central Bank of Nigeria (CBN) says 14 banks have fully met the new regulatory capital requirements, marking a significant milestone in the ongoing recapitalisation drive aimed at strengthening the financial system.
Governor Olayemi Cardoso disclosed this on Tuesday at a news conference in Abuja, while presenting the outcome of the Monetary Policy Committee (MPC) meeting.
“The MPC noted the continued resilience of the banking system, with most financial soundness indicators remaining within projected benchmarks,” Cardoso said.
“Members also acknowledge the significant progress in the ongoing bank recapitalisation exercise, as 14 banks have fully met the new capital requirement.”
The committee urged banks to sustain fundraising efforts and the CBN to press ahead with initiatives that ensure the full completion of the recapitalisation exercise.
Forbearance Waivers Phased Out
Cardoso also confirmed the termination of forbearance measures and waivers on civil obligors, a move he said has enhanced transparency, improved risk management, and bolstered long-term financial stability.
He reassured the public that the impact of removing these measures was “transitory and poses no risk to the soundness or stability of the banking system.”
New Capital Rules in Force
On March 28, 2024, the CBN raised the minimum capital requirement for commercial banks with international licences to N500 billion, prompting lenders to announce a flurry of fundraising initiatives.
The new capital thresholds mandate N500 billion for international banks, N200 billion for national banks, and N50 billion for regional banks.
The CBN’s initiative is designed to build resilience in the banking sector and position it to support Nigeria’s economic growth ambitions.Financial softwareFinancial software
The latest disclosure by the CBN governor showed an improvement from the data available as of September 13, 2025, when at least 11 banks were said to have successfully met the new capital requirements.
The banks include Access Holdings, Zenith Bank, GTBank, Ecobank, Stanbic IBTC, Wema Bank, Jaiz Bank, Lotus Bank, Providus Bank, Greenwich Merchant Bank, and Premium Trust Bank.
GTBank recently boosted its paid-up capital from N138 billion to N504 billion through a capital injection from its parent company, GTCO.
Access Bank and Zenith Bank secured their positions early through rights issues and public offers, sending reassuring signals to investors.
United Bank for Africa (UBA) is currently in the middle of a rights issue, which has been extended to September 19, 2025.
Fidelity Bank has raised over N273 billion and plans to close its remaining capital gap with a private placement.
Several others are pursuing share sales, bond issuances, and strategic partnerships to boost their capital base.
In July 2025, the CBN said only eight banks had met the recapitalisation target, underscoring the rapid progress since then.
Banking Sector Resilience
The recapitalisation exercise is part of the apex bank’s broader effort to safeguard financial stability, strengthen buffers against economic shocks, and ensure Nigerian lenders are positioned to finance growth in Africa’s largest economy.Financial software
by Oludare Mayowa; Contact: globalfinancialdiges
