CBN bank recapitalisation programme concludes successfully as Nigerian banks raise ₦4.65 trillion, strengthening financial stability and resilience

The Central Bank of Nigeria, CBN, has announced the successful conclusion of its banking sector recapitalisation programme, describing it as a major reform designed to strengthen the resilience of the financial system and sustain confidence in the country’s banking industry.

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The exercise, which commenced in March 2024, enabled Nigerian banks to raise a total of ₦4.65 trillion in fresh capital over a 24-month period, marking one of the most significant capital-raising initiatives in recent years.

According to the CBN, all 33 banks operating in the country have now met the revised minimum capital requirements, while maintaining full operations throughout the process to ensure uninterrupted banking services for customers.

In a joint statement signed by the Director of Banking Supervision, Olubukola Akinwunmi, and the Acting Director of Corporate Communications, Hakama Sidi Ali, the apex bank said the programme has strengthened capital buffers, improved asset quality and enhanced overall financial stability.

The statement described the recapitalisation as a transformative step that has reinforced the banking sector’s ability to withstand both domestic and external economic shocks while supporting broader economic growth.

CBN Governor Olayemi Cardoso also noted that the initiative has significantly bolstered the capital base of banks, positioning them to better support lending, mobilise savings and contribute to long-term economic development.

A breakdown of the capital inflows showed that 72.55 per cent was sourced locally, while 27.45 per cent came from international markets, reflecting a balanced mix of domestic and foreign investor participation.

The apex bank further assured that banking operations remained stable throughout the recapitalisation period, with no disruptions to customer access to financial services.

It added that the sector has maintained capital adequacy ratios above international Basel benchmarks, with minimum thresholds set at 10 per cent for regional and national banks and 15 per cent for internationally authorised institutions.

The CBN also highlighted that the recapitalisation was implemented alongside a gradual exit from regulatory forbearance, improving transparency in bank balance sheets and strengthening overall governance frameworks.

To sustain the gains achieved, the regulator said it has intensified risk-based supervision, requiring banks to conduct regular stress tests and maintain adequate capital buffers under varying economic conditions.

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The successful completion of the programme, the CBN stated, establishes a stronger and more resilient banking system capable of supporting economic activity, safeguarding deposits and maintaining stability amid global uncertainties.