13 Banks Yet To Meet Re-capitalisation Requirement — CBN

The Central Bank of Nigeria, CBN, says that 13 Nigerian banks are yet to meet up with its re-capitalization requirement as the March 31, 2026, deadline draws near.

CBN Governor, Olayemi Cardoso, spoke during a briefing after the 304th meeting of the Monetary Policy Committee, MPC, on Tuesday, adding that, out of 33 banks, only 20 have met the minimum capital requirements.

According to Cardoso, the MPC urged banks to ensure the successful completion of the re-capitalization programme.

His words, “Members acknowledged the continued resilience of the banking sector.

“With regards to the ongoing re-capitalization programme, the committee noted that of the 33 banks that have raised additional capital, 20 have met the new minimum capital requirements, reaffirming steady progress to a rebooted and recapitalized financial system.” 

The apex bank had in March 2024, announced a new re-capitalization requirement for Nigerian banks with March 31, 2026 as the deadline, even as 

Cardoso had been leading the bank's efforts to strengthen the banking system, protect depositors, and modernize payment systems. 

Some of his priorities for this year, include delivering durable price stability, fostering responsible fintech innovation, as well as building institutional capacity.