The Central Bank of Nigeria (CBN) has confirmed that 16 commercial banks have now met the regulatory recapitalisation threshold, reflecting continued progress in the banking sector’s efforts to strengthen capital buffers ahead of the March 2026 compliance deadline.
CBN Governor Olayemi Cardoso announced the development on Tuesday during a press briefing held after the Monetary Policy Committee (MPC) meeting in Abuja. The updated figure marks an improvement from September, when 14 banks had met the requirement.
Cardoso said the MPC was satisfied with the resilience of the financial system, noting that key soundness indicators remained within acceptable regulatory limits. He stated that the committee observed “substantial progress” in the ongoing recapitalisation programme, which aims to enhance the sector’s stability and capacity to support economic growth.
According to the Governor, the committee commended the banks that have already reached full compliance and encouraged the CBN to maintain steady oversight to ensure a smooth and timely completion of the recapitalisation process.
The exercise, first announced in 2024, requires banks to raise additional capital to strengthen their balance sheets, improve risk absorption capacity, and align the sector with global regulatory standards.
