The Central Bank of Nigeria (CBN) has announced the successful conclusion of the banking
sector recapitalisation programme.
The programme which was initiated in March 2024 over the 24-month period, raised a total of ₦4.65 trillion in new capital, strengthening the resilience of
the financial system and enhancing its capacity to support the economy.
The programme recorded strong participation from both domestic and international investors,
with 72.55% of capital sourced locally and 27.45% from international markets, reflecting
sustained confidence in the Nigerian banking sector.
Governor Olayemi Cardoso said: “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.”
The CBN confirms that 33 banks have met the revised minimum capital requirements
established under the programme. A limited number of institutions remain subject to ongoing
regulatory and judicial processes, which are being addressed through established
supervisory and legal frameworks.
All banks remain fully operational, ensuring continued access to banking services for
customers.
The programme has strengthened capital adequacy ratios (CAR), with the sector maintaining
levels above international Basel benchmarks. Minimum CAR thresholds remain at 10% for
regional and national banks and 15% for banks with international authorization.
The recapitalisation, implemented alongside an orderly exit from regulatory forbearance, has
improved asset quality, reinforcing balance sheet transparency and overall financial system
stability.
To safeguard these gains, the CBN has strengthened its risk-based capital adequacy
framework, requiring banks to conduct regular stress testing across defined scenarios and
maintain appropriate capital buffers.
Key regulatory measures, including prudential guidelines and the supervisory framework, are
subject to periodic review to support ongoing strengthening of governance, risk management,
and sector resilience.
The recapitalisation programme was carried out without disruption to banking services,
ensuring continuous access for individuals and businesses throughout the process.
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.
The Central Bank of Nigeria remains committed to maintaining a stable, transparent, and
resilient financial system that inspires confidence among depositors, investors, and the
broader public, and to advancing the sustainability of the nation’s financial architecture.
