The Central Bank of Nigeria (CBN) said it has concluded the banking sector recapitalisation programme, announcing that banks raised a total of ₦4.65 trillion.
The apex bank said this in a statement issued on Wednesday, April 1, signed by its Director of Banking Supervision, Olubukola Akinwunmi, and Acting Director of Corporate Communications, Hakama Sidi Ali.
According to CBN, the 24-month exercise, which was launched in March 2024, will reinforce financial system stability and boost capacity to support economic growth.
It attracted strong participation from both domestic and international investors, underscoring sustained confidence in the Nigerian banking sector.
The apex bank noted that 72.55 per cent of the capital was sourced locally, while 27.45 per cent came from international markets.
The CBN Governor, Olayemi Cardoso, said the exercise has significantly strengthened the industry’s capital base.
“The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks,” he said.
33 Banks Meet New Capital Thresholds
According to the CBN, 33 banks have met the revised minimum capital requirements set under the programme, while a limited number of institutions remain subject to ongoing regulatory and judicial processes.
The bank, however, assured that all institutions remain operational, with no disruption to customer access to banking services during the recapitalisation period.
“The programme has been implemented in a manner that preserves system stability while ensuring that all banks continue to meet their obligations to customers,” it stated.
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It said the exercise has improved capital adequacy ratios (CAR) across the sector, with levels remaining above international Basel benchmarks.
It said Minimum CAR thresholds were maintained at 10 per cent for regional and national banks and 15 per cent for banks with international licences.
Stronger Balance Sheets, Improved Asset Quality
The recapitalisation programme, executed alongside an orderly exit from regulatory forbearance, has also enhanced asset quality and strengthened balance sheet transparency across the industry.
Analysts note that the clean-up of bank balance sheets and stronger capital buffers are expected to position lenders for increased credit expansion to the real sector.
“The strengthening of capital buffers and improved asset quality will enhance banks’ ability to support lending and absorb shocks,” the CBN said.
Tighter Oversight, Risk-based Supervision
To sustain the gains from the exercise, the apex bank said it has reinforced its risk-based supervision framework, requiring lenders to conduct regular stress testing and maintain adequate capital buffers under varying economic scenarios.
It added that prudential guidelines and supervisory frameworks will continue to be reviewed periodically to strengthen governance standards, risk management practices, and overall sector resilience.
Seamless Execution, Stronger Financial System
The CBN emphasised that the recapitalisation was completed without disruption to banking operations, ensuring uninterrupted access to financial services for individuals and businesses.
With the programme now concluded, the regulator said the banking system is better positioned to mobilise savings, support lending, and withstand both domestic and global shocks.
“The successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks,” CBN said.
The apex bank reiterated its commitment to maintaining a stable, transparent, and resilient financial system that continues to inspire confidence among depositors, investors, and the wider public.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
