30 Banks Clear CBN’s Capital Requirements Hurdle
By Patience Ikpeme
The Central Bank of Nigeria (CBN) has announced that 30 banks have now successfully met the new capital requirements set for them to continue operating in the country.
This update, shared on Friday, March 6, 2026, shows that the plan to make Nigerian banks stronger is moving along well.
Just a few days ago, on February 24, the CBN Governor, Mr. Olayemi Cardoso, disclosed that 20 banks had crossed the finish line. This fresh report shows that 10 more banks have joined the list of those that have secured their future under the new rules.
In a statement released by Mrs. Hakama Sidi Ali, the Acting Director of Corporate Communications at the CBN, she explained that the banks have been busy looking for funds to stay strong. She said, “In total, thirty-three (33) banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the programme.”
While 30 banks are already confirmed, the others are not far behind. Mrs. Sidi Ali noted that the capital put forward by the remaining banks is being checked by the CBN to make sure everything is in order before the final deadline. She said, “The capital positions of the remaining banks are currently undergoing the Central Bank’s routine verification process ahead of final confirmation of compliance within the recapitalisation timeline.”
The CBN started this whole process in 2024 because it wanted to make sure that Nigerian banks have enough “financial muscle” to support the economy, help businesses grow, and keep the money of ordinary Nigerians safe. The bank wants a financial system that can stand strong even when global markets are unstable.
The apex bank also told Nigerians not to worry about their money, stating that the banking system is very healthy and stable. The statement noted that the recapitalisation plan is strictly on track and will help banks give more support to families and small businesses across the nation.
To make sure the banks stay on the right path, Mrs. Sidi Ali said, “The Central Bank of Nigeria will continue to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements.” This means the CBN is keeping a very close eye on the banks to ensure they follow all the rules and stay safe for everyone to use.
