Out of the 13 listed banks on the Nigerian Exchange (NGX), six have so far met the new capital thresholds issued by the Central Bank of Nigeria (CBN).
They include Access Bank, Zenith Bank, GTBank, Wema Bank, Jaiz Bank, and Stanbic IBTC.
In March 2024, the CBN directed commercial banks with international authorization to increase their capital base to N500 billion, while those with national licenses must raise N200 billion.
Banks with regional authorization were given a N50 billion capital floor. Similarly, non-interest banks with national and regional authorizations are required to increase their capital to N20 billion and N10 billion, respectively.
The CBN gave a compliance deadline of March 2026.
Zenith Bank Plc has also met its recapitalization requirement.
The group’s 2024 audited accounts show that share capital and share premium stood at N614.65 billion, comfortably above the N500 billion threshold for an international license.
With the recapitalization, shares outstanding increased by 9.674 billion units from 31.40 billion in 2023 to 41.07 billion in December 2024.
Its Q1 2025 financial statements confirmed these numbers, as we await the release of H1 2025 results.
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