CBN has confirmed that16 banks are now fully compliant with recapitalisation target ahead of 2026 deadline.
NewsOnline Nigeria reports that the Central Bank of Nigeria (CBN) has announced that 16 banks have now met its recapitalisation requirement, signalling stronger compliance across the industry as lenders race toward the March 2026 deadline.
CBN Governor, Olayemi Cardoso, disclosed the update on Tuesday during a post–Monetary Policy Committee (MPC) briefing in Abuja. The figure reflects an improvement from the 14 banks that had achieved compliance at the September MPC meeting.
ALSO: Paystack Fires Co-Founder Ezra Olubi Amid Resurfaced Misconduct Allegations
According to Cardoso, the MPC expressed satisfaction with the stability of the banking sector, noting that key financial soundness indicators remain within regulatory limits.
He said the committee also “acknowledged the substantial progress in the ongoing recapitalisation programme, with 16 banks achieving full compliance with the revised capital requirements,” while urging the CBN to ensure its successful completion.
CBN Highlights Improved Fiscal–Monetary Synergy
The apex bank also credited the strengthened coordination between fiscal and monetary authorities for Nigeria’s recent sovereign credit rating upgrades and the country’s removal from the FATF grey list. These developments, the Bank noted, will enhance investor confidence and support stronger capital inflows.
The recapitalisation exercise, introduced last year, forms a central part of the CBN’s reform agenda to boost the banking sector’s resilience, improve shock-absorption capacity, and scale up credit support to key sectors of the economy.
MPR Held at 27% as CBN Maintains Tight Monetary Stance
The MPC voted to retain the Monetary Policy Rate (MPR) at 27 percent, maintaining the CBN’s aggressive anti-inflation strategy and efforts to stabilise the foreign exchange market.
Cardoso said the decision reflects the committee’s assessment that current measures are yielding results—citing a gradual decline in headline inflation and improved liquidity in the FX market.
While acknowledging persistent inflationary pressures, he stressed that keeping the MPR at 27% will help sustain downward price movement and reinforce expectations in financial markets.
NewsOnline Nigeria reports that the recapitalisation programme is one of the CBN’s most far-reaching reforms in recent years, designed to position Nigerian banks for stronger global competitiveness.
Banks known to have met the recapitalisation threshold include Access Bank, Zenith Bank, GTBank, Wema Bank, Jaiz Bank, and Stanbic IBTC.
In March 2024, the CBN directed banks with international licences to raise their minimum capital to ₦500 billion, while those with national authorisation must achieve ₦200 billion.
