Nigerian Banks Raise ₦4.65 Trillion as CBN Recapitalisation Ends

Thirty-three Nigerian banks have met the Central Bank of Nigeria’s new capital requirements, raising a combined ₦4.65 trillion before the March 31, 2026, deadline.

In 2024, the CBN ordered all Nigerian banks to raise their minimum capital levels. The reason was simple: many banks did not have enough money to absorb big financial shocks or fund large-scale projects that Nigeria needs, like roads, power plants, and factories.

Under the new rules, banks with international licences must now hold at least ₦500 billion in capital. National banks need ₦200 billion, and regional banks need ₦50 billion.

How Much Was Raised?

By the March 31 deadline, Nigerian banks had raised a total of ₦4.65 trillion in new capital, far more than many analysts expected when the programme started.

Of the total amount raised, 72.55 per cent came from Nigerian investors, while the remaining 27.45 per cent came from international investors. That international participation is seen as a vote of confidence in Nigeria’s banking system.

Why Does This Matter for Nigerians?

Stronger banks mean more loans for businesses and individuals. With larger capital bases, banks can now fund the kinds of large, long-term projects that create jobs, such as building infrastructure, supporting manufacturers, and lending to small businesses.

CBN Governor Olayemi Cardoso put it plainly: a strong banking sector is the backbone of a strong economy, and Nigeria cannot grow into a trillion-dollar economy without banks that have the firepower to support that growth.

What Comes Next?

The recapitalisation exercise is over, but the work is not done. Banks must now submit Risk-Based Capital stress test reports to the CBN by April 30, 2026. This will show whether banks can survive financial shocks under pressure ,not just on paper, but in real-world conditions.

The CBN has also hinted at a possible review of the Cash Reserve Ratio ahead of its second-quarter 2026 Monetary Policy Committee meeting. A proposed increase could tighten the amount of money banks keep in reserves, affecting how freely they can lend.

A Few Banks Are Still Catching Up

Most banks met the deadline, but a small number are still working through the process. The CBN has confirmed it is closely monitoring these institutions and has reassured depositors that their funds remain safe.

The completion of Nigeria’s bank recapitalisation is a major economic moment. It sets the foundation for a more resilient financial system,but how well these newly-capitalised banks put their money to work will be the real test in the months ahead.