The Traffic

BREAKING: Eight Nigerian Banks Hit Recapitalisation Milestone Ahead of 2026 Deadline – CBN

In a major development for Nigeria’s banking sector, eight financial institutions have successfully met the Central Bank of Nigeria’s (CBN) new capital base requirements, with the rest on track to beat the March 2026 deadline.

CBN Governor Olayemi Cardoso, speaking at the close of the Monetary Policy Committee (MPC) meeting in Abuja, disclosed that the recapitalisation efforts are yielding strong results. The new capital base—focused solely on paid-up share capital and share premium—requires N500 billion for international banks and N200 billion for national banks. This excludes retained earnings and other reserves, meaning virtually all banks must raise fresh capital.

Banks have already mobilized over ₦2 trillion since the programme began in March 2024, with many offerings oversubscribed. More fundraising rounds are expected through late 2025, even among tier-1 banks.

Cardoso emphasized the programme’s intent to fortify financial system stability, empower banks to fund major economic projects, and align with global supervision standards. Meanwhile, monetary policy rates were held steady: MPR at 27.50%, CRR at 50% for deposit banks, and Liquidity Ratio at 30%—a move aimed at sustaining recent inflation-control progress.

While analysts like Dr. Muda Yusuf of the CPPE supported the decision to hold rates, they also warned about persistent inflationary pressures—especially from energy, food, and logistics. With lending rates hovering over 30%, calls are growing for more accessible financing to drive growth.

The Nigeria Employers’ Consultative Association (NECA) also applauded the MPC’s move, describing it as a bold step towards long-term economic stability.

By Haruna Yakubu Haruna