Central Bank of Nigeria has announced the conclusion of its banking sector recapitalisation exercise, confirming that 33 financial institutions successfully met the revised capital requirements.
Gatekeepers News reports that in a statement, the apex bank said the exercise was part of broader efforts to strengthen the resilience of Nigeria’s financial system and position banks to support economic growth.
According to the CBN, the recapitalisation programme required banks to shore up their capital base within a specified timeline, either through fresh equity injection, mergers and acquisitions, or other approved funding channels.
The regulator noted that the majority of deposit money banks complied with the directive, reflecting improved investor confidence and stronger balance sheets across the sector.
Officials said the exercise is expected to enhance banks’ capacity to absorb shocks, finance large-scale projects, and support critical sectors of the economy.
While 33 banks met the threshold, the CBN indicated that institutions yet to comply are being closely monitored, with regulatory options available to ensure full alignment with the new requirements.
The bank added that the recapitalisation marks a significant step in ongoing reforms aimed at maintaining financial stability, improving risk management, and aligning Nigeria’s banking industry with global best practices.
The development follows months of capital-raising activities across the sector, including rights issues and strategic investments, as banks moved to meet the stricter benchmarks set by the apex regulator.
