(DDM) – The Central Bank of Nigeria has disclosed that 20 deposit money banks have successfully met the new minimum capital requirements introduced under its ongoing banking sector recapitalisation programme.
The apex bank made the disclosure in Lagos during the presentation of the Nigerian Economic Summit Group’s 2026 Macroeconomic Outlook, as the March 31, 2026 compliance deadline steadily approaches.
CBN officials used the platform to stress that recapitalisation is not an end in itself but a means to strengthen the real economy through increased and better-targeted lending.
The regulator said it expects stronger bank balance sheets to translate into real credit expansion for businesses, households, and critical sectors of the economy, rather than existing only as improved figures on financial statements.
According to the CBN, recapitalisation forms part of a broader national strategy to position Nigeria’s financial system to support long-term economic growth and the ambition of building a trillion-dollar economy.
The bank explained that better-capitalised financial institutions can assume larger and longer-term risks, finance major infrastructure and industrial projects, and expand access to credit, especially for small and medium-sized enterprises.
CBN officials emphasised that SMEs require patient capital and longer repayment horizons, which undercapitalised banks often struggle to provide.
Under the recapitalisation framework announced in March 2024, the CBN reset minimum capital thresholds across banking licence categories.
Commercial banks with international authorisation must now maintain a minimum capital base of ₦500 billion.
Banks operating with national authorisation must meet a ₦200 billion capital requirement.
Regional commercial banks are required to maintain a minimum capital base of ₦50 billion.
The apex bank clarified that only paid-in capital qualifies for meeting the new thresholds, defined as paid-up share capital plus share premium.
The CBN excluded bonus issues and certain reserves from qualifying instruments under the new rules.
The compliance window officially runs from April 1, 2024 to March 31, 2026, giving banks two years to adjust their capital structures.
Based on updates from the recapitalisation exercise, 20 banks have already met the required thresholds across the various licence categories.
The compliant banks include Access Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, Fidelity Bank Plc, Guaranty Trust Bank, First HoldCo Plc, Ecobank Nigeria, Citibank Nigeria Limited, and Stanbic IBTC Bank.
Others listed are Wema Bank Plc, Premium Trust Bank, Globus Bank, Providus Bank, Lotus Bank, Jaiz Bank, Unity Bank through a merger structure, Polaris Bank, The Alternative Bank, Sterling Bank, and Nova Bank.
Despite the progress, the CBN warned that compliance represents only the first stage of the reform process.
The regulator said it will intensify oversight to ensure that increased capital bases result in productive, sustainable, and inclusive lending to priority sectors.
CBN officials disclosed that technology-driven monitoring tools are already in use to track how banks deploy their strengthened capital positions.
The apex bank also highlighted Nigeria’s significant development finance gap, noting that funding needs in key sectors far exceed the capacity of existing development finance institutions.
As a result, the CBN said it is placing greater emphasis on mobilising private capital, both locally and internationally, to support national development goals.
With the compliance deadline approaching, banks yet to meet the requirements face limited strategic options.
The CBN listed fresh equity raises, attraction of strategic investors, mergers, acquisitions, or licence downgrades as possible pathways.
Industry analysts have already begun projecting consolidation within the sector.
A recent outlook by rating firm DataPro predicted that at least three bank mergers could occur in early 2026 as smaller lenders race to meet the recapitalisation deadline.
The CBN maintained that the ultimate success of the recapitalisation programme will depend on its impact on economic growth, job creation, and financial inclusion across Nigeria.