Eight commercial banks in Nigeria have successfully met the Central Bank of Nigeria’s (CBN) new recapitalization requirement ahead of the March 31, 2026 deadline, according to CBN Governor Olayemi Cardoso.
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Cardoso disclosed this while addressing journalists in Abuja after the 301st meeting of the Monetary Policy Committee (MPC).
He noted that the recapitalization exercise remains on course, with the CBN closely monitoring the progress of all banks. While eight banks have already met the required capital thresholds, others are still working toward full compliance before the deadline.
The CBN had earlier announced a 24-month window for banks to meet the new minimum capital base, which varies by license category. International banks are expected to raise their capital to N500 billion, national banks to N200 billion, and regional banks to N50 billion.
Although the CBN has not released the names of the eight compliant banks, Cardoso assured that the industry is moving steadily towards achieving the target, aimed at strengthening the banking sector and enhancing its resilience.
