Fesochukwu Jason
The Central Bank of Nigeria (CBN) has announced the successful conclusion of a 24-month banking sector recapitalisation programme, with Nigerian banks raising a total of ₦4.65 trillion to strengthen the financial system’s resilience and capacity to support the economy.
The programme, initiated in March 2024, attracted robust participation from both domestic and international investors, with 72.55% of capital sourced locally and 27.45% from abroad, highlighting sustained confidence in Nigeria’s banking sector.
CBN Governor Olayemi Cardoso said the initiative “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.”
All 33 participating banks met the revised minimum capital requirements, while a few institutions remain under ongoing regulatory and judicial review. Capital adequacy ratios across the sector now exceed international Basel benchmarks, ensuring stability and transparency.
The recapitalisation programme was implemented alongside a structured exit from regulatory forbearance, improving asset quality and reinforcing balance sheet transparency. The CBN has also enhanced its risk-based supervision, requiring banks to conduct regular stress tests and maintain appropriate capital buffers to safeguard sector stability.
CBN confirmed that the process was completed without disrupting banking services, maintaining continuous access for businesses and individuals. The strengthened banking system is now better positioned to support lending, mobilise savings, and withstand both domestic and global shocks.
The CBN reaffirmed its commitment to a stable, transparent, and resilient financial system that inspires confidence among depositors, investors, and the wider public, while advancing the sustainability of Nigeria’s financial architecture.
Juliet Ezeh is the founder and chief reporter at Westbridge Reporters with over 7 years of experience in journalism. She covers crime, industry, policy, and social developments, delivering timely and accurate reporting.