March 31 Deadline: “13 Nigerian Banks Yet to Meet Recapitalisation Requirement” – CBN

CBN has disclosed that 13 Nigerian banks are yet to neet new recapitalisation requirement ahead of March 31, 2026.

 

NewsOnline Nigeria reports that the Central Bank of Nigeria has disclosed that 13 Nigerian banks are yet to meet its new minimum capital requirements as the March 31 recapitalisation deadline approaches.

 

CBN Governor, Olayemi Cardoso, made this known on Tuesday while addressing journalists after the Bank’s 304th Monetary Policy Committee (MPC) meeting.

 

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According to him, out of the 33 banks that have raised additional capital under the ongoing programme, only 20 have successfully met the revised minimum capital thresholds.

 

MPC Urges Compliance

Cardoso noted that members of the MPC acknowledged the continued resilience of Nigeria’s banking sector but stressed the need for full compliance with the recapitalisation directive.

 

“With regards to the ongoing recapitalisation programme, the committee noted that of the 33 banks that have raised additional capital, 20 have met the new minimum capital requirements, reaffirming steady progress to a reboosted and recapitalised financial system,” he said.

 

The MPC further urged banks yet to meet the requirement to ensure timely completion of the exercise before the regulatory deadline.

 

Background to Recapitalisation Policy

 

The apex bank had in March 2024 announced a new recapitalisation framework for commercial banks, setting March 31, 2026, as the compliance deadline.

 

The policy is aimed at strengthening the banking sector’s capacity to support economic growth, improve shock absorption, and enhance financial system stability.

 

With the deadline drawing near, attention is now focused on the remaining 13 banks expected to meet the capital threshold in the coming weeks.