The Central Bank of Nigeria (CBN) has announced that 33 banks have successfully met the revised minimum capital requirements under its recently concluded recapitalisation programme, marking a significant step toward strengthening the nation’s financial system.
According to the apex bank, a total of N4.65 trillion was raised over the 24-month exercise, with capital adequacy ratios across the banking sector now exceeding Basel benchmarks. This improvement is expected to enhance banks’ ability to support economic growth and withstand financial shocks.
The recapitalisation drive also saw strong participation from domestic investors, who accounted for 72.55% of the total funds raised, reflecting increased confidence in Nigeria’s banking industry.
The CBN added that the exercise was completed without disrupting banking operations, although a small number of institutions remain under regulatory and judicial review within existing supervisory frameworks.