CBN Recapitalisation Race Tightens as March 31 Deadline Nears

Nigeria’s banking sector is entering the final stretch of the Central Bank of Nigeria’s (CBN) recapitalisation programme, with the compliance deadline set for March 31, 2026.

As the deadline draws closer, banks are moving quickly to complete rights issues, private placements, and other capital-raising plans,because the new capital levels will help determine what licence category a bank can keep and how far it can expand.

What the CBN Is Asking Banks to Meet

Under the recapitalisation framework, banks are expected to meet minimum paid-in capital requirements based on licence type. For commercial banks, the thresholds are widely referenced as:

• ₦500 billion for international authorisation
• ₦200 billion for national authorisation
• ₦50 billion for regional authorisation

The recapitalisation target is based on paid-up share capital plus share premium, not just profit reserves or accounting adjustments.

Why the Race Is Getting Tighter Now

This is the most intense phase of the recapitalisation window. Banks that raised early are now focused on final processing and verification, while others are trying to close gaps before the deadline.

The pressure is high because recapitalisation affects more than regulatory compliance. It shapes a bank’s ability to take bigger positions in lending, compete for large corporate deals, expand across borders, invest in technology, and absorb shocks in a fragile economy. Banks that miss their targets may be forced to rethink their licence ambitions, restructure, merge, or raise funds under tougher conditions.

Reports Say FirstBank Has Hit the ₦500bn Mark

Recent business reporting has indicated that FirstBank has met the ₦500 billion requirement linked to the international licence category. Other local reports have also claimed that more banks have now met their required thresholds as the deadline approaches, although the exact number varies depending on how each report counts “fully verified” capital.

What to Watch Between Now and March 31

In the coming weeks, the main issue will not be headlines—it will be confirmation and recognition of capital raised, alongside the completion of required processes.

For investors and business observers, the key things to watch are official updates from banks, completion of allotments, and any late-stage moves such as mergers, acquisitions, or licence adjustments by banks that decide not to compete in the highest capital category.