Overview

The Central Bank of Nigeria (CBN) announced the successful conclusion of its banking sector recapitalisation programme initiated in March 2024. Over 24 months, Nigerian banks raised ₦4.65 trillion in new capital, with 72.55% from domestic sources and 27.45% from international investors. Governor Olayemi Cardoso stated that the programme strengthened capital bases, financial system resilience, and capacity to support economic growth. 33 banks met revised minimum capital requirements; a few institutions remain under regulatory or judicial processes but continue operations without disruption. The programme improved capital adequacy ratios (CAR) above Basel benchmarks, with minimum CAR of 10% for regional/national banks and 15% for international authorization banks. Enhanced prudential oversight includes risk-based capital adequacy, regular stress testing, and periodic regulatory reviews. The recapitalisation was implemented alongside an orderly exit from regulatory forbearance, improving asset quality and transparency. The CBN remains committed to a stable, transparent, and resilient financial system.

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