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.
Stanbic IBTC has also met the CBN’s recapitalization requirement for national banks.
Its 2023, and Q1 2025 financial statements show that share capital and premium stood at N109.26 billion and shares outstanding at 12.96 billion shares.
In June 2025, the bank announced the completion of its rights issue of N148.7 billion (2,944,772,083) ordinary shares, of which N140 billion was injected into the banking subsidiary, raising its capital base above the N200 billion threshold.
Consequently, shares outstanding rose to 15.90 billion units, implying the issuance of 2.95 billion new shares and raising of new capital of N140 billion
The group is yet to release its H1 2025 results, which are expected to fully reflect these recapitalization changes.
You probably aren’t well informed about this.
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