Eight Nigerian banks meet recapitalisation target ahead of 2026 deadline – CBN
Central Bank of Nigeria (CBN) has announced that eight Nigerian banks have already met the apex bank’s recapitalisation requirement, well ahead of the 2026 deadline.
Speaking on Tuesday after the conclusion of the 301st Monetary Policy Committee (MPC) meeting, CBN governor, Yemi Cardoso disclosed this and commended the progress made by the banking sector. While he did not disclose the identities of the eight banks, he noted that one had successfully raised a substantial sum on the London Stock Exchange.
“Already eight banks have surpassed the minimum required,” Cardoso stated. “Let me also say, in addition to that, we have one bank that has raised a significant amount of money in the London Stock Exchange.”
He added that the recapitalisation efforts are attracting significant international investor interest, a positive signal for the Nigerian financial system.
“There is a lot of interest internationally in putting money in the Nigerian financial system,” he said. “The key thing is that we as regulators will continue to play our part.”
The CBN had earlier directed commercial banks to raise their capital base to support economic growth and withstand global financial shocks, setting a 2026 deadline for compliance.
