Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has disclosed that 14 banks have met the apex bank’s new capital requirements set under the ongoing recapitalisation exercise.
Cardoso made the announcement on Tuesday in Abuja while briefing journalists on the outcome of the Monetary Policy Committee (MPC) meeting. He noted that the banks’ compliance reflects steady progress in the recapitalisation programme, which is aimed at strengthening the financial system and positioning lenders to support Nigeria’s economic growth.
The CBN governor explained that the recapitalisation initiative is critical to enhancing the resilience of banks, boosting their capacity to finance large-scale projects, and aligning the sector with international standards.
Cardoso did not provide the full list of compliant banks but stressed that the apex bank would continue to monitor funding efforts closely, ensuring that all financial institutions meet the stipulated requirements within the given timeframe.
The recapitalisation drive, announced earlier this year, mandates commercial banks to significantly raise their minimum capital base by 2026, with tier-one banks required to meet higher thresholds due to their size and systemic importance.
Analysts say the disclosure signals improved investor confidence in the banking sector, even as lenders explore rights issues, mergers, and fresh equity injections to meet the targets.
