CBN Confirms 14 Banks Scale New Capitalisation Hurdle

By Diafa Doubra,

The Central Bank of Nigeria (CBN) has confirmed that 14 commercial banks in the country have successfully met its new capital requirements.

CBN Governor, Olayemi Cardoso, made the disclosure in Abuja while addressing financial stakeholders on the progress of the recapitalisation exercise. He explained that the reform, which was designed to strengthen the resilience of the banking sector, is yielding results as several banks are already on track, while others are working towards meeting the June 2026 deadline.

According to Cardoso, the recapitalisation move is part of the broader strategy to stabilise the economy, attract foreign investment, and ensure that Nigerian banks are better positioned to finance large-scale projects in critical sectors such as infrastructure, oil and gas, and manufacturing.

He assured Nigerians that the CBN would continue to closely monitor the process to ensure full compliance, stressing that no bank would be allowed to fall short of the new requirements.