Eight Banks Meet CBN’s New Capital Requirements Ahead of 2026 Deadline

This follows the apex bank’s recapitalization directive issued in 2023, compelling commercial banks to boost their capital base in line with updated licensing tiers. CBN Governor Olayemi Cardoso made the announcement during a press conference in Abuja after the conclusion of the Monetary Policy Committee’s two-day meeting.

According to Cardoso, while eight banks have fully complied, others are steadily progressing toward meeting the threshold. Banks with international licenses must secure a minimum of ₦500 billion in share capital and share premium, while those operating under national licenses are required to raise at least ₦200 billion by March 31, 2026. He emphasized that these measures are designed to reinforce public confidence, ensure financial system stability, and align Nigeria’s banking sector with global regulatory standards.

So far, the response to the recapitalization drive has been robust, with banks collectively raising over ₦2 trillion in 2024. Many of these fundraising efforts were oversubscribed, reflecting strong investor interest.

As the final phase of the recapitalization window approaches, several banks—especially tier-1 institutions—are preparing to close remaining gaps by the end of Q4 2025. Cardoso reiterated that this process is essential to strengthen financial resilience and empower banks to support large-scale economic development.