Nigeria’s banking sector recapitalisation drive has gained significant traction, with 30 banks already meeting the new minimum capital requirements while three lenders are still undergoing regulatory verification, the Central Bank of Nigeria (CBN) said on Friday.
The apex bank disclosed that a total of 33 banks successfully raised fresh capital through various channels including rights issues, initial public offerings, and private placements as part of the industry-wide recapitalisation programme launched in 2024.
“As of March 6, 2026, the recapitalisation exercise is progressing steadily. Thirty banks have met the new minimum capital requirements applicable to their respective licence authorisations. In total, thirty-three banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the programme,” the CBN said in a statement signed by Hakama Sidi Ali, acting director of corporate communications.
