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The Central Bank of Nigeria (CBN) has announced that 30 banks have satisfied the new minimum capital requirements as of March 2026, ahead of the March 31 compliance deadline.

This update was disclosed on Friday by the CBN’s spokesperson, Hakama Ali-Sidi, in an official statement.

The apex bank further revealed that 33 financial institutions have successfully raised additional funds through mechanisms such as rights issues and Initial Public Offerings (IPOs).

This indicates that three banks are yet to fully meet the capital threshold, although their financial positions are currently undergoing standard verification procedures before final confirmation of compliance within the recapitalization schedule.

According to the central bank, the bank recapitalization initiative is advancing steadily.

The statement noted that as of March 6, 2026, the recapitalization process continues to make significant progress, with 30 banks already achieving the new minimum capital benchmarks required for their respective operating licences.

“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.”

“In total, thirty-three (33) banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the program.”

“The Central Bank of Nigeria will continue to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements,” the apex bank stated.

It will be recalled that CBN Governor, Olayemi Cardoso, during the 304th Monetary Policy Committee (MPC) briefing, earlier stated that 20 out of the 33 banks had already met the capital requirement.

This means that between February 24 and March 6, an additional 10 banks successfully met the required capital levels.

It is also important to recall that in March 2024, the Central Bank introduced new capital thresholds for commercial banks, setting March 31, 2026, as the deadline for compliance.

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