Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has disclosed that 14 banks have successfully met the apex bank’s new capital threshold ahead of the March 2026 deadline.
The development reflects growing compliance in the sector, with banks accelerating their recapitalisation plans to meet regulatory requirements.
The figure marks significant progress compared to July 2025, when Cardoso disclosed that only eight banks had reached the capital target.
“On the financial sector, the MPC noted the continued resilience of the banking system, with most financial soundness indicators remaining within projected benchmarks,” Cardoso told journalists on Tuesday at the end of the 302nd Monetary Policy Committee (MPC) meeting.
“Members also acknowledge the significant progress in the ongoing bank recapitalisation exercise, as 14 banks have fully met the new capital requirement.”
Maintain the Momentum
The CBN governor urged banks that are yet to meet the threshold to sustain efforts toward full compliance.
“The MPC therefore urge the banks to continue the implementation of policies and initiatives that will ensure the successful completion of the ongoing recapitalisation exercise,” he added.
The CBN’s recapitalisation policy, announced last year, is aimed at strengthening the resilience of Nigeria’s financial system, positioning banks to withstand shocks, and providing capacity to support larger credit demands in the economy.
MPC Moves to Ease Monetary Conditions
In addition to reviewing the banking sector’s recapitalisation status, the MPC also announced adjustments to Nigeria’s monetary policy stance. The Committee cut the Monetary Policy Rate (MPR) by 50 basis points, reducing it from 27.5 percent to 27 percent.
The asymmetric corridor around the benchmark rate was also narrowed to +250/-250 basis points, from the previous +500/-100 basis points. According to the CBN, the adjustment is designed to strengthen liquidity management and provide clearer signals to the financial markets.
Cardoso explained that the policy shift reflects the MPC’s cautious attempt to ease monetary conditions in response to improving macroeconomic fundamentals and slowing inflationary pressures.
“The adjustment reflects our deliberate effort to balance price stability with the need to stimulate growth in a more stable macroeconomic environment,” he said.
The recapitalisation exercise is one of the most ambitious reforms by the CBN in recent years, with the goal of positioning Nigerian banks to compete more effectively in the global financial system.
What You Should Know
Last week, Nairametrics reported that 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.
