19 Nigerian banks have already met the Central Bank of Nigeria’s (CBN) new minimum capital requirements, with less than 90 days to the March 31, 2026, deadline, signalling strong early compliance with the ongoing banking sector recapitalisation.
The recapitalisation drive, one of the most far-reaching reforms in over a decade, aims to strengthen banks’ balance sheets, improve shock absorption, and boost credit creation across the economy.
International banks (₦500 billion minimum):
Access Bank, Fidelity Bank, First Bank of Nigeria, GTBank, UBA, Zenith Bank
National banks (₦200 billion minimum):
Citibank Nigeria, Ecobank Nigeria, Globus Bank, Stanbic IBTC Bank, Sterling Bank, Wema Bank, PremiumTrust Bank, Providus Bank
Merchant banks (₦50 billion minimum):
FSDH Merchant Bank, Greenwich Merchant Bank, Nova Merchant Bank
Non-interest banks (₦10bn–₦20bn):
Jaiz Bank, Lotus Bank
The milestone shows significant progress, even as other lenders intensify efforts to raise capital ahead of the deadline.
In 2024, the CBN sharply raised minimum capital requirements to align Nigeria’s banking system with global standards. The recapitalisation window runs from April 1, 2024, to March 31, 2026, allowing banks to comply through rights issues, private placements, mergers and acquisitions, or licence restructuring.
As the deadline approaches, attention is now shifting to how remaining banks will close their capital gaps and what consolidation moves may reshape the industry.
