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The Central Bank of Nigeria has concluded its recapitalisation programme, with 33 banks meeting the minimum capital requirements. The programme, launched in March 2024, aimed to boost the financial system’s stability.
According to CBN, the banks raised N4.65 trillion, with 72.55% sourced locally and 27.45% from international markets, showing investors’ confidence in the Nigerian banking sector.
CBN Governor Olayemi Cardoso stated that the programme has strengthened the banks’ capital base, reinforcing the financial system’s resilience and positioning it to support economic growth.
The apex bank noted that the sector’s capital adequacy ratios remain above international Basel benchmarks, with minimum thresholds set at 10% for regional and national banks and 15% for international banks.
All banks remain operational, ensuring customers’ access to banking services. The CBN has strengthened its risk-based capital adequacy framework, requiring banks to conduct regular stress testing and maintain capital buffers.
CBN wraps up recapitalisation exercise with 33 banks meeting requirements. By Clem Aguiyi
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