The Central Bank of Nigeria says 30 banks have now hit the new minimum-capital targets it set in March 2024.
In a Friday note, Hakama Sidi Ali, acting director of corporate communications, added that 33 lenders in total have raised fresh money—through rights issues, IPOs and private placements—since the exercise began.
“The CBN rolled out the recap programme last year to shore up the resilience, stability and staying power of the nation’s banking system,” the regulator said. “Banks have since moved to beef up their capital in line with the tougher rules.
“As of today, 30 banks have met the revised minimum for their licence category. The remaining lenders’ capital positions are going through our normal verification checks before final confirmation.”
CBN reiterated that the banking system “remains stable and sound” and promised to keep supervising closely so every bank meets the deadline.
Governor Olayemi Cardoso had said on 24 February that 20 banks had cleared the hurdle then; verified capital raises stood at ₦4 trillion on 19 February.
The recap clock runs out on 31 March 2026.
