BREAKING: GTBank, UBA, First Bank, 5 Others Meet CBN Recapitalisation (FULL LIST)

GTBank, UBA, and First Bank among 5 others have reportedly met CBN recapitalisation.

 

NewsOnline Nigeria reports that Eight Nigerian banks, including Zenith Bank, Access Bank, GTBank, UBA, First Bank, Fidelity Bank, Stanbic IBTC, and FCMB, have successfully met the new minimum capital requirements set by the Central Bank of Nigeria (CBN), the apex bank confirmed on Tuesday.

Speaking at a post-Monetary Policy Committee (MPC) meeting briefing in Abuja, CBN Governor Olayemi Cardoso stated that while eight banks had fully complied with the recapitalisation directive, others were making steady progress toward the March 31, 2026 deadline.

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“The MPC noted that eight banks have fully met the recapitalisation requirements, while others are making progress towards meeting the deadline,” Cardoso said.

Recall that the CBN launched the current recapitalisation programme in March 2024, redefining the minimum capital base to include only paid-up share capital and share premium, excluding retained earnings and reserves. This shift meant most banks, regardless of current shareholder funds, were required to raise fresh capital.

Commercial banks with international licenses must now have a minimum of ₦500 billion in share capital and premium, while those with national licenses must meet a ₦200 billion benchmark by 2026.

So far, banks have raised over ₦2 trillion in 2024 alone, with many public offers oversubscribed. Additional capital-raising efforts are expected into the final quarter of 2025, particularly among Tier-1 banks seeking to close any remaining gaps.

Cardoso emphasized that the recapitalisation policy is aimed at bolstering financial system stability, improving banks’ capacity to fund large-scale economic projects, and aligning Nigeria’s banking system with international risk management standards.

He added that Financial Soundness Indicators (FSIs) show sustained sector resilience due to the ongoing capital strengthening.