The Central Bank of Nigeria, CBN has disclosed that 30 banks have met the new minimum capital requirements introduced by the apex bank two years ago.
Nigerians banks have until March 31 to meet the new recapitalization threshold set by the Yemi Cardoso-led CBN.
In a statement by the Acting Director of Corporate Communications at the CBN, Hakama Sidi-Ali, on Friday, the apex bank stated that several commercial banks had successfully raised their capital base through rights issues, initial public offerings and private placements, among other channels.
The statement read, “As of March 6, 2026, the recapitalisation exercise is progressing steadily. Thirty (30) banks have met the new minimum capital requirements applicable to their respective licence authorisations. In total, thirty-three (33) banks have raised additional capital through rights issues, initial public offerings, and private placements as part of the programme.”
According to the CBN, verifications are ongoing to ascertain the compliance of remaining banks to ensure they complied before the end of this month.
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