The Central Bank of Nigeria (CBN) says Nigerian banks raised a total of N4.65trillion in new capital at the successful conclusion of the banking sector recapitalisation programme initiated in March 2024.
According to a joint statement from Director, Banking Supervision Olubukola A. Akinwunmi, and Acting Director, Corporate Commmunications, Hakama Sidi-Ali said the new capital raised over the 24 month period, will strengthen the resilience of the financial system and enhance its capacity to support the economy.
The statement further revealed that “The programme recorded strong participation from both domestic and international investors, with 72.55% of capital sourced locally and 27.45% from international markets, reflecting sustained confidence in the Nigerian banking sector.”
Reacting to the development, CBN Governor, Olayemi Cardoso said : “The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well- positioned to support economic growth and withstand domestic and external shocks.”
…Capital Strengthening and Financial System Resilience
In the meantime, the CBN has confirmed that 33 banks met the revised minimum capital requirements established under the programme.
The apex bank however stated that “A limited number of institutions remain subject to ongoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks.”
It pointed out “All banks remain fully operational, ensuring continued access to banking services for customers.”
The apex bank disclosed “The programme has strengthened capital adequacy ratios (CAR), with the sector maintaining levels above international Basel benchmarks. Minimum CAR thresholds remain at 10% for regional and national banks and 15% for banks with international authorization.”
The CBN highlighted that the recapitalisation was implemented alongside an orderly exit from regulatory forbearance, which has improved asset quality, reinforcing balance sheet transparency and overall financial system stability.
…Enhanced Prudential Oversight and Risk Based Supervision
The apex bank however noted “To safeguard these gains, the CBN has strengthened its risk based capital adequacy framework, requiring banks to conduct regular stress testing across defined scenarios and maintain appropriate capital buffers.”
Key regulatory measures, including prudential guidelines and the supervisory framework, are subject to periodic review to support ongoing strengthening of governance, risk management, and sector resilience.
…Continuity of Operations and System Stability
The bank pointed out that the recapitalisation programme was carried out without disruption to banking services, ensuring continuous access for individuals and businesses throughout the process.
The CBN stated the “successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks.”
The statement concluded ”Central Bank of Nigeria remains committed to maintaining a stable, transparent, and resilient financial system that inspires confidence among depositors, investors, and the broader public, and to advancing the sustainability of the nation’s financial architecture.
