5 Nigerian Banks Meet CBN’s Recapitalisation Targets Ahead of Deadline

The Central Bank of Nigeria (CBN) set ambitious recapitalisation deadlines in March 2024, demanding that international-authorised banks raise their shareholders’ funds to ₦500 billion, national-authorised banks to ₦200 billion, and regional banks to ₦50 billion.

As of June 30, 2025, 5 Nigerian banks have already hit these marks, according to the CBN’s latest half-year report.

Which Banks Have Complied?

By the end of the first half of 2025, Access Bank, Zenith Bank, Ecobank Nigeria, Lotus Bank, and Jaiz Bank had all reached the required capital floors.

Access Bank and Zenith Bank, two of Nigeria’s largest tier-1 banks, each surpassed the ₦500 billion threshold. Ecobank Nigeria also cleared the ₦500 billion bar, while Lotus Bank (₦200 billion requirement) and Jaiz Bank (₦50 billion requirement) met their respective targets.

Why Recapitalisation Matters

Recapitalisation serves two key purposes: strengthening banks’ resilience against shocks and supporting expanded lending capacity. When banks bolster their capital, they can better absorb losses, maintain regulatory ratios, and continue extending credit to households and businesses.

For a system-wide perspective, Nigeria’s banking industry held total regulatory capital of approximately ₦8 trillion at the end of 2024, up 12 percent year-on-year, evidence that many institutions are responding to the CBN’s call to shore up buffers.

Broader Progress—and Remaining Gaps

While these five banks lead the pack, not all banks have moved at the same pace. A mid-June 2025 Proshare report noted that only two tier-1 banks, Zenith Bank and Access Holdings, had initially met the ₦500 billion share capital and premium requirement, leaving others like GTCO and United Bank for Africa still working toward the goal .

National banks such as United Bank for Africa (₦200 billion target) and Fidelity Bank (pending Supreme Court liability) remain on track but have not yet announced completion. Regional players like Wema Bank and Stanbic IBTC Holdings are in various stages of their rights issues to meet the ₦50 billion floor (punchng.com).

How These Banks Met Their Targets

• Equity Issuances and Rights Offers: Access Bank and Zenith Bank each raised hundreds of billions of naira through rights issues to shareholders, tapping institutional and retail investors.
  
• Internal Capital Generation: Some banks enhanced retained earnings by prioritising profitable operations. Ecobank Nigeria, for example, reported a 20 percent increase in profit before tax in Q1 2025, feeding into its capital base.
  
• Strategic Partnerships and Mergers: Lotus Bank met its ₦200 billion target partly through a merger with a fintech-focused institution in late 2024, bringing fresh equity onboard.

Looking Ahead: The March 2026 Deadline

The CBN’s recapitalisation window closes in March 2026. Regulators and market analysts will be watching how quickly the remaining banks close the gap.

In the longer term, the CBN has hinted at further reforms, potentially raising capital floors again or tightening liquidity requirements, to ensure Nigerian banks remain competitive in the broader African and global markets.