Banks have raised a total of N4.05 trillion under the Central Bank of Nigeria’s (CBN) ongoing recapitalisation programme ahead of the March 31, 2026, deadline, signalling strong investor confidence and steady progress toward strengthening the country’s financial system.
The governor of the CBN, Olayemi Cardoso, disclosed this on Tuesday after the conclusion of a two-day Monetary Policy Committee (MPC) meeting in Abuja.Cardoso said 20 of the 33 participating banks have already met the new minimum capital requirements, while 13 institutions are still finalising their recapitalisation plans through a range of strategic options, including mergers and consolidation where necessary.
The MPC acknowledged the continued resilience of the banking sector, noting that most financial soundness indicators remain within regulatory thresholds. “The MPC reiterated the strategic importance of the recapitalisation exercise and urged the Bank to ensure its successful completion.
“This would reinforce financial system resilience and enhance the sector’s capacity to support sustainable economic growth,” Cardoso said.
As of February 19, 2026, verified and approved capital raises totalled N4.05 trillion, with domestic investors accounting for N2.90 trillion or 71.67 per cent of the total. Foreign participation amounted to $706.84 million, equivalent to N1.15 trillion or 28.33 per cent, reflecting growing international interest in Nigeria’s banking
