Eight Banks Meet CBN’s N500 Billion Recapitalisation Requirement Ahead of 2026 Deadline
The Central Bank of Nigeria (CBN) has confirmed that eight commercial banks have fully met the new recapitalisation threshold of ₦500 billion, the sector’s financial stability ahead of the March 31, 2026 deadline.
CBN Governor Olayemi Cardoso announced this milestone during a press briefing concluding the bank’s recent Monetary Policy Committee (MPC) meeting in Abuja, noting that other banks are still progressing toward full compliance.
One of the capital-boosted banks also successfully raised funds on the London Stock Exchange, a milestone that Cardoso highlighted as evidence of growing international investor confidence in Nigeria’s financial sector.
Eight banks have surpassed the minimum required. And…one bank…raised a significant amount of money from the London Stock Exchange,” Cardoso said.
Policy Stance: Stability and Inflation Control
Alongside the recapitalisation update, the CBN retained all key monetary policy parameters:
Monetary Policy Rate (MPR): Held at 27.50%
Asymmetric corridor: +500 / –100 basis points
The Cash Reserve Ratio (CRR) is set at 50% for Deposit Money Banks and 16% for Merchant Banks.
This decision reflects the central bank’s commitment to sustaining the momentum of disinflation, as headline inflation eased for the third consecutive month in June, reaching 22.22%.
Strengthening Nigeria’s Banking System
The expanded capital base is designed to bolster banks’ capacity to finance large-scale economic projects and align with global risk-based supervision standards. The initiative began in March 2024, requiring banks with international licenses to reach ₦500 billion and those with national licenses to meet ₦200 billion.
Previously, during the first round of fundraising in 2024, Nigerian banks successfully secured over ₦2 trillion, with many offers oversubscribed.
Outlook: Sustainable Confidence and Economic Growth
Governor Cardoso emphasised that strong capital buffers and maintained policy parameters aim to bolster resilience in Nigeria’s financial system and support broader economic stability. He also referenced improved foreign exchange reserves, which stood at approximately $40 billion, equivalent to about nine and a half months of import cover.
Looking ahead, the MPC reaffirmed its commitment to data-driven decisions to guide future monetary policy, while urging continued progress from banks yet to meet the recapitalisation target.
Final Take
Eight banks have met the recapitalisation requirement.
International fundraising, including via the LSE, underscores external confidence.
Monetary policies remain steady to support inflation control and financial stability.
As Nigeria progresses toward March 2026, the recapitalisation drive is widely regarded as a critical step in reinforcing the banking sector’s capacity to fuel national growth and safeguard against economic shocks.