Nigeria’s Bank Recapitalisation: Who’s Met the CBN Requirements and Who’s Still Working to Comply

The Central Bank of Nigeria (CBN) has embarked on one of the most ambitious bank recapitalisation exercises in recent history, aiming to strengthen the resilience of the Nigerian financial system and position banks to better support economic growth ahead of the March 31, 2026 compliance deadline.

CBN’s revised capital framework raises minimum capital requirements for banks based on their operating licences. The main categories are:

• Commercial Banks (International Licence): ₦500 billion

• Commercial Banks (National Licence): ₦200 billion

• Commercial Banks (Regional Licence): ₦50 billion

• Merchant Banks: ₦50 billion

• Non-Interest Banks (National): ₦20 billion

• Non-Interest Banks (Regional): ₦10 billion

These higher capital thresholds are designed to ensure banks have the financial strength to absorb shocks, lend more effectively across sectors like SMEs, and support Nigeria’s broader economic ambitions.

Banks

Banks That Have Met the Capital Requirements

Twenty (20) Banks Fully CompliantIn the latest update from late February 2026, the CBN disclosed that 20 out of the 33 licensed Nigerian deposit money banks that raised fresh capital have successfully met the new minimum capital requirements. Collectively, these banks raised around ₦4.05 trillion in fresh capital, most of it mobilised domestically.
Among the compliant banks are:

1. Large International and Tier-1 Banks (₦500 bn category):
Access Bank Plc
Zenith Bank Plc
Guaranty Trust Holding Company Plc
United Bank for Africa (UBA) Plc
First Bank of Nigeria Ltd
Fidelity Bank Plc(These banks meet the highest tier for international commercial banks.)

2. National-Licence Banks (₦200 bn category):

• Wema Bank Plc
• Stanbic IBTC Bank Ltd
• Ecobank Nigeria Plc
• Citibank Nigeria Ltd
• Globus Bank Ltd
• PremiumTrust Bank
• Providus Bank (These banks have met national capital thresholds.)

3. Other Licensed Institutions:
Some merchant banks and non-interest banks have also met the applicable capital requirements under their licence categories.

Banks Yet to Fully Comply
Despite strong progress, 13 banks are still in the process of meeting their capital targets and are expected to complete their recapitalisation before the March 31, 2026 deadline. The CBN governor noted that these banks have ongoing efforts — ranging from rights issues to mergers — to secure the required capital.
These institutions are at various stages of their capital-raising plans. Some may still be finalising strategies such as public offers, private placements, or potential mergers to shore up their capital base in time.

What This Means for the Banking Sector
The recapitalisation drive reflects a major reform aimed at reshaping Nigeria’s banking industry:
Stronger balance sheets: Larger capital buffers help banks absorb economic shocks.
Enhanced lending capacity: Well-capitalised banks can support business growth and credit expansion.
Sector resilience: Early compliance by major banks signals investor confidence and a more stable financial system.
CBN leadership has emphasised that while 20 banks are fully compliant, the regulator expects the remaining institutions to complete their recapitalisation efforts before the deadline, ensuring a fully robust banking sector by March 2026.