The Central Bank of Nigeria (CBN) has disclosed that 20 banks have collectively raised the sum of N4.05 trillion to successfully met the new minimum capital requirement ahead of the March 31 deadline.
CBN Governor Olayemi Cardoso disclosed this at the end of the 304th Monetary Policy Committee (MPC).
He confirmed that 33 banks have so far raised additional capital, with 20 already meeting the regulatory threshold, while the remaining 13 were still working to comply before the deadline.
According to Cardoso, members of the MPC noted the continued resilience of the banking sector, highlighting that key financial soundness indicators remain within regulatory limits.
“The MPC reiterated the strategic importance of the recapitalisation exercise and urged the bank to ensure its successful completion.”
Cardoso further revealed that of the N4.05 trillion raised by the 20 compliant banks, N2.90 trillion representing 71.6 per cent, was sourced domestically, with 706.84 million U.S., which is 1.15 trillion, representing 28.33 per cent foreign.
He noted that the blend of domestic and foreign capital reflects broad investor participation and confidence in Nigeria’s banking sector.
According to him, the strengthened capital base will enhance financial system resilience and improve banks’ capacity to support sustainable economic growth and price stability.
