At least 14 commercial banks in Nigeria have not yet satisfied the capitalization mandates set forth by the Central Bank of Nigeria (CBN), as the looming deadline of March 31, 2026 approaches.
This update comes on the heels of CBN Governor Olayemi Cardoso’s announcement on Tuesday, revealing that sixteen banks have successfully met their recapitalization requirements prior to the apex bank’s March 2026 deadline.
DAILY POST reports that Cardoso made this revelation in a statement following the bank’s 303rd Monetary Policy Committee (MPC) meeting held in Abuja.
According to Cardoso, this development is a positive indication of the financial robustness within the nation’s banking infrastructure.
The MPC has been urged to facilitate a smooth execution of the recapitalization process by the banks.
“The committee expressed its contentment with the enduring resilience of the banking sector, noting that the majority of financial stability indicators remain comfortably within regulatory norms,” Cardoso stated.
“It acknowledged the significant advancements in the ongoing recapitalization initiative, with 16 banks attaining full alignment with the updated capital requirements.
“Consequently, the committee implored the Bank to ensure effective implementation and conclusion of the program, alongside other domestic advancements,” Cardoso added.
This implies that two additional Nigerian banks have recently joined the roster of those complying with the apex bank’s recapitalization criteria over the past two months.
Recall that during the 302nd MPC meeting, Cardoso announced that initially only fourteen banks had achieved the required recapitalization standards.
According to CBN data from 2024, the country consists of thirteen commercial banks, five merchant banks, and seven financial holding companies.
Earlier reports indicated that Access Bank, Zenith Bank, GTBank, Wema Bank, Jaiz Bank, Stanbic IBTC, among others, had already conformed to CBN’s recapitalization guidelines.
In March, the CBN mandated commercial banks with international licenses to augment their capital base to N500 billion, while those with national licenses are required to escalate it to N200 billion.
