Trouble looms as fourteen Nigerian banks yet to meet CBN’s recapitalisation ahead of deadline

Keep up with the latest news and be part of our weekly giveaways and airtime sharing; follow our WhatsApp channel for more updates. Click to Follow

No fewer than 14 Nigerian commercial banks are yet to meet the Central Bank of Nigeria’s recapitalisation requirement as the 31st March 2026 deadline inches closer.

This follows CBN Governor, Olayemi Cardoso’s declaration on Tuesday that sixteen Nigerian banks had satisfied their recapitalisation criteria ahead of the apex bank’s March 2026 deadline.

Cardoso revealed this in a statement following the bank’s 303rd Monetary Policy Committee in Abuja, according to ZINGTIE.

Cardoso claims that the development shows that the nation’s financial banking sector is sound financially.

Banks had urged MPC to make sure the recapitalization process was carried out successfully.

“The committee noted with satisfaction the sustained resilience of the banking system, with most financial soundness indicators remaining within regulatory thresholds,” Cardoso said.

“Acknowledged the substantial progress in the ongoing recapitalisation programme, with 16 banks achieving full compliance with the revised capital requirements.

“The committee thus urged the Bank to ensure a successful implementation and conclusion of the programme, among other domestic developments,” Cardoso said.

This indicates that the list of banks that have satisfied with the apex bank recapitalization requirement in the past two months now includes two more Nigerian banks.

Remember that only fourteen banks have fulfilled the recapitalization criterion, according to Cardoso’s announcement during the 302nd MPC meeting.

According to CBN documents from 2024, the nation has seven financial holding firms, five merchant banks, and thirteen commercial banks.

Access Bank, Zenith Bank, GTBank, Wema Bank, Jaiz Bank, Stanbic IBTC, and others have already fulfilled CBN’s recapitalization requirement, according to a report that surfaced earlier.

In March, CBN mandated that commercial banks with national licenses enhance their capital base to N200 billion, while those with international authorization must raise it to N500 billion.

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post.