Twenty-three Nigerian banks have met the new capital requirements set by the Central Bank of Nigeria ahead of the March 31, 2026 deadline, tightening the race for the remaining institutions yet to comply.
The recapitalisation policy, introduced under CBN Governor Olayemi Cardoso, mandates minimum capital thresholds across banking categories as part of efforts to strengthen the financial system and boost resilience.
Under the new framework, banks with international licences are required to raise at least ₦500 billion. So far, six major lenders have met the mark — Zenith Bank, Access Bank, First Bank, GTBank (GTCO), UBA and Fidelity Bank.
For national licence holders, a minimum of ₦200 billion is required. Ecobank Nigeria, Stanbic IBTC, Sterling Bank, Wema Bank, Citibank Nigeria, Standard Chartered Nigeria, Globus Bank, PremiumTrust Bank and Providus Bank have all crossed the threshold.
In the non-interest banking segment, Jaiz Bank, Lotus Bank, TAJBank and AltBank have met the ₦20 billion requirement, while all four merchant banks — FSDH Merchant Bank, Greenwich Merchant Bank, Nova Merchant Bank and Rand Merchant Bank — have also satisfied the ₦50 billion capital base.
However, 14 banks are yet to meet the requirement with just five weeks to the deadline, raising the prospect of forced mergers, acquisitions or licence downgrades for non-compliant institutions.
Despite concerns among depositors, Cardoso has assured that customers’ funds remain safe, insisting that the recapitalisation exercise is designed to protect the banking sector rather than destabilise it.
Further details obtained by this online newspaper indicate that regulators are closely monitoring compliance levels as the deadline approaches, with pressure mounting on weaker banks to shore up capital or explore strategic partnerships.
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