Nigeria’s banking sector recapitalisation drive has gained major momentum, with lenders raising N4.05tn in verified and approved capital ahead of the March 31, 2026 deadline set by the Central Bank of Nigeria.
CBN Governor Olayemi Cardoso disclosed that as of February 19, 2026, the total capital raised reflects strong investor confidence in Nigeria’s financial system.
Of the N4.05tn secured, N2.90tn (71.6%) came from domestic investors, while N1.15tn (28.3%) was mobilised from foreign participation — highlighting growing international interest in Nigerian banks.
20 Banks Meet New Capital Requirements
According to the apex bank, 20 commercial banks have fully met the new minimum capital thresholds, while 13 others are in advanced stages of completion.
Under the recapitalisation policy introduced in March 2024:
International banks must raise minimum capital to N500bn
National banks must meet N200bn
Regional commercial and merchant banks require N50bn
Non-interest banks must hold between N10bn and N20bn
The policy aims to strengthen banking sector resilience, boost lending capacity, and position Nigeria for its $1tn economy ambition.
Stronger Reserves, Falling Inflation
Beyond bank recapitalisation, Nigeria’s gross external reserves rose to $50.4bn as of mid-February 2026 — the highest level in 13 years.
The increase is supported by improved trade balances, rising non-oil exports, and stronger diaspora remittances.
Inflation has also dropped significantly from about 34% to slightly above 15%, following tight monetary policy measures.
Despite a recent 50 basis-point cut in the Monetary Policy Rate to 26.5%, the CBN maintains a cautious stance to preserve macroeconomic stability.
Focus Shifts to Productive Lending
While recapitalisation strengthens bank balance sheets, regulators stress that capital growth must translate into productive credit for SMEs, exporters, and key sectors.
With stronger banks, rising reserves, and improving investor confidence, Nigeria’s financial sector appears better positioned to absorb global shocks and support sustainable economic growth.
