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Three Nigerian banks are yet to meet the Central Bank of Nigeria’s minimum capital requirements as of Friday, March 6, 2026, ahead of the apex bank’s recapitalization deadline on March 31.
Mrs. Hakama Ali-Sidi, the spokesperson of CBN, disclosed this in a statement on Friday.
According to the statement, 30 Nigerian banks have met their respective minimum capital requirements, leaving only three left.
The apex bank, however, noted that the remaining three banks are currently undergoing routine verification on their capital positions after 33 banks raised additional capital through rights issues and initial public offerings (IPOs).
“As of March 6, 2026, the recapitalization exercise is progressing steadily. Thirty (30) banks have met the new minimum capital requirements applicable to their respective license authorizations,” he said.
Recall that CBN governor, Olayemi Cardoso, in its 304th Monetary Policy Committee briefing, stated that 20 banks out of 33 have met capital requirements. Meaning that from February 24th to March 6th, an additional ten banks met their various minimum capital requirements.
Recall that in March 2024, the apex bank announced new capital requirements for banks with March 31, 2026, as the deadline.
Recapitalization deadline: Three Nigerian banks yet to meet CBN requirements
