The Central Bank of Nigeria (CBN) has finally disclosed that 33 banks met the minimum capital requirements under its recapitalisation programme aimed at strengthening the resilience of the financial system.
In a statement on Wednesday, CBN said the programme, which commenced in March 2024, has now been concluded after a 24-month implementation period.
The country’s apex bank also stated that banks raised N4.65 trillion under its recapitalisation programme targeted at boosting financial system stability. CBN 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 aoex bank confirmed 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,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 apex bank said.The apex bank further stated that the programme has strengthened capital adequacy ratios (CAR), with the sector maintaining levels above international Basel benchmarks.
Minimum CAR thresholds remain at 10 per cent for regional and national banks and 15 per cent for banks with international authorisation.
The recapitalisation, implemented alongside an orderly exit from regulatory forbearance, has improved asset quality, reinforcing balance sheet transparency and overallfinancial system stability.
To safeguard the gains, the CBN said it has strengthened its risk-based capital adequacy framework, requiring banks to conduct regular stress testing across defined scenarios and maintain appropriate capital buffers. The programme recorded strong participation from both domestic and international investors, with 72.55 per cent of capital sourced locally and 27.45 per cent from international markets, reflecting sustained confidence in the Nigerian banking sector.
