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The Central Bank of Nigeria (CBN) has announced the successful conclusion of its landmark banking sector recapitalisation programme, initiated in March 2024.
According to the apex bank, over the 24-month period, Nigerian banks raised a total of 4.65 trillion in new capital, strengthening the resilience of the financial system and enhancing its capacity to support the economy.
According to a statement by Olubukola A. Akinwunmi, PhD, Director of Banking Supervision and Hakama Sidi Ali, Acting Director of Corporate Communications, the achievement is a turning point for the nation’s financial system.
The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well‑positioned to support economic growth and withstand domestic and external shocks,” Cardoso declared.
According to the apex bank, the recapitalisation drive drew robust investor confidence, with 72.55% of funds sourced locally and 27.45% from international markets.
“This level of participation underscores the trust investors continue to place in the Nigerian banking sector,” noted Hakama Sidi Ali, Acting Director of Corporate Communications.
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The CBN confirmed that 33 banks have successfully met the revised minimum capital requirements, while a handful remain under regulatory and judicial review. Olubukola A. Akinwunmi, PhD, Director of Banking Supervision, assured stakeholders that “all banks remain fully operational, ensuring uninterrupted access to services for customers throughout the recapitalisation process.”
The programme has boosted capital adequacy ratios above international Basel benchmarks, with thresholds set at 10% for regional and national banks and 15% for those with international authorization. Officials emphasized that the recapitalisation, coupled with an orderly exit from regulatory forbearance, has improved asset quality and balance sheet transparency.
To safeguard these gains, the CBN has tightened its risk‑based capital adequacy framework, mandating regular stress testing and stronger capital buffers.
“We are committed to maintaining a stable, transparent, and resilient financial system that inspires confidence among depositors, investors, and the broader public,” Cardoso reaffirmed.
With the recapitalisation now complete, Nigeria’s banking sector stands on firmer ground—better equipped to mobilize savings, expand lending, and weather both domestic and global economic shocks.
By: Babajide Okeowo
The post CBN wraps up recapitalisation exercise, raises N4.65tr to strengthen financial system resilience appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.
