The Central Bank of Nigeria, CBN, says Nigerian banks have become stronger following the recent recapitalisation exercise.
The apex bank made the disclosure on Wednesday after the expiration of the 24 months window granted the banks to increase their working capital . The directive, which was announced by the Yemi Cardoso-led CBN in March 2024 expired on Tuesday, March 31, 2026.
According to a statement jointly signed by Dr Olubukola Akinwunmi, Director, Banking Supervision, and Mrs Hakama Sidi-Ali, Acting Director, Corporate Communications Department of the CBN, the bank stated most of the banks have fully recapitalized, saying others who are yet to do so will continue to be operational.
The bank stated that over N4.6 trillion has been invested by local and foreign investors in the banks during the period, adding that the exercise attracted 72.55 per cent of local capital while 27.45 per cent investment was sourced from international markets, saying the development has further strengthened confidence in the nation’s financial system and the economy.
It stressed that ongoing ‘judicial and regulatory’ process are ongoing to address banks that failed to meet the new recapitalisation threshold set for them.
“A limited number of institutions remain subject to ongoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks,” CBN said.
“All banks remain fully operational, ensuring continued access to banking services for customers.
“The recapitalisation implemented alongside an orderly exit from regulatory forbearance has improved asset quality, reinforcing balance sheet transparency and overall financial system stability.”
The bank stated further that the nation’s banking system has become stronger to support lending, mobilise savings, and capable of resisting any global economic shock.
“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 CBN 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,’’ CBN stated.
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