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| 19 Nigerian Banks Meet CBN Capital Requirements Ahead of 2026 Deadline |
Discover how 19 Nigerian banks meet CBN capital requirements ahead of the March 2026 deadline, what it means for financial stability, the capital thresholds, and banks involved.
Nigeria’s banking industry is undergoing one of the most significant regulatory transitions in decades. With the Central Bank of Nigeria’s (CBN) recapitalisation exercise well underway, an important development has emerged: 19 Nigerian banks meet CBN capital requirements ahead of the March 31, 2026 deadline set by the apex bank. This milestone signals growing compliance, stronger financial buffers, and a likely boost in investor confidence across the financial system.
In this comprehensive guide, we break down the details behind this development, the implications for banks and the broader economy, the banks involved, and what happens next.
What Does It Mean That 19 Nigerian Banks Meet CBN Capital Requirements?
When we say 19 Nigerian banks meet CBN capital requirements, it means these institutions have successfully raised their minimum capital base to the levels stipulated by the Central Bank of Nigeria under its ongoing recapitalisation policy.
The CBN introduced updated minimum capital thresholds in March 2024 as part of a bid to strengthen the resilience of the banking system, enhance shock absorption capacity, support larger credit creation, and align Nigerian banks with regional and global peers.
This reform covers various licence categories—international, national, regional, merchant, and non-interest banks—with different capital floors.
Why the Recapitalisation Exercise Matters
The capital base of a bank represents the financial cushion it holds against unexpected losses. A stronger capital base:
- Reduces risk of bank failures
- Supports lending to businesses and households
- Enhances stability in periods of economic stress
- Bolsters confidence among depositors and investors
Recapitalisation also ensures that banks can compete with regional and global counterparts, attract foreign capital, and contribute effectively to Nigeria’s economic growth.
The CBN has set March 31, 2026 as the final deadline for all deposit-taking banks to meet the new standards.
Breakdown of the Capital Requirements
The recapitalisation policy mandates different minimum capital bases depending on the type of banking licence:
- International Authorisation Banks: ₦500 billion
- National Authorisation Banks: ₦200 billion
- Regional Authorisation Banks: ₦50 billion
- Merchant Banks: ₦50 billion
- Non-Interest (Islamic) Banks: ₦10–20 billion
These figures are based on paid-up capital and share premium only, excluding retained earnings and other components.
Who Are the 19 Banks That Have Met the Requirement?
According to recent reports, as of early January 2026, at least 19 Nigerian banks have confirmed compliance with the CBN’s new capital thresholds ahead of the March deadline.
These compliant banks fall into different licence categories:
International Licence Banks (₦500 billion minimum)
These banks are major players in Nigeria’s financial landscape and dominate cross-border transactions:
- Access Bank
- Fidelity Bank
- First Bank of Nigeria
- Guaranty Trust Bank (GTBank)
- United Bank for Africa (UBA)
- Zenith Bank
National Licence Banks (₦200 billion minimum)
These banks operate comprehensively across Nigeria and have built capacity to support national economic activities:
- Citibank Nigeria
- Ecobank Nigeria
- Globus Bank
- Stanbic IBTC Bank
- Sterling Bank
- Wema Bank
- PremiumTrust Bank
- Providus Bank
Merchant Banks (₦50 billion minimum)
These banks play specialized roles in corporate finance, investment services, and structured transactions:
- FSDH Merchant Bank
- Greenwich Merchant Bank
- Nova Merchant Bank
Non-Interest Banks (₦10–20 billion minimum)
These banks focus on ethical and Shariah-compliant financial services:
- Jaiz Bank
- LOTUS Bank
Post-compliance, these banks have secured a stronger footing ahead of the regulatory deadline—a major positive for Nigeria’s financial stability.
How Banks Raised Capital
Banks have used a combination of strategic options to meet these capital thresholds:
Rights Issues and Private Placements
Several banks conducted rights issues or private placements to raise fresh equity from institutional and retail investors. For example, Fidelity Bank raised between ₦250 billion and ₦270 billion through a private placement, bolstering its paid-up capital to well above the ₦500 billion requirement.
Equity Injection by Parent Groups
Major banking groups have tapped into capital markets or injected equity from holding companies. For instance, Guaranty Trust Holding Company Plc (GTCO) raised significant funds to reinforce GTBank’s capital buffer.
Shareholder Approval and Market Support
Some banks, such as FCMB Group Plc, received shareholder approval to raise hundreds of billions of naira through planned capital increases as part of their recapitalisation strategy.
Why Some Banks Have Not Yet Met the Deadline
Despite strong momentum, not all banks have fully crossed the regulatory finish line. As of early January 2026, 14 banks were still working toward compliance.
Their paths to compliance often involve:
- Additional fundraising through rights issues
- Negotiations for strategic mergers or acquisitions
- Licence downgrades or reclassifications
- Capital injections by parent companies
The CBN allows various routes toward compliance as long as the ultimate capital base meets the mandated thresholds.
What Happens After March 31, 2026?
Banks that fail to meet the minimum capital requirements face regulatory consequences, which may include:
- Restrictions on operations
- Limitations on lending activities
- Possible licence revocation
- Forced mergers or takeovers
The exact enforcement measures are at the CBN’s discretion, and the apex bank is expected to provide periodic updates on progress and compliance enforcement.
Broader Impacts on Nigeria’s Financial System
Improved Financial Resilience
A higher capital base boosts banks’ capacity to withstand economic shocks, absorb losses, and maintain confidence during downturns.
Increased Credit Capacity
Stronger capital buffers enhance banks’ ability to lend, which can fuel business growth, consumer credit, and infrastructure investment.
Better Alignment with Global Standards
By raising capital thresholds, Nigeria’s banking sector aligns more closely with international prudential frameworks, supporting cross-border activities and investor confidence.
Risks and Considerations
While the recapitalisation exercise has clear benefits, it also carries risks:
- Smaller or undercapitalised banks may struggle to raise funds
- Market volatility could affect share subscription outcomes
- Concentration risk may increase if divestitures or mergers reduce the number of independent banks
It remains essential for regulators and market participants to manage these dynamics carefully.
Stay informed on banking reforms and recapitalisation developments by subscribing to official CBN updates and reliable financial news platforms. This ensures you’re always aware of regulatory changes and their implications for investment and banking decisions.
Conclusion
The fact that 19 Nigerian banks meet CBN capital requirements ahead of the March 31, 2026 deadline is a landmark achievement. It reflects proactive strategies, shareholder confidence, and a collective effort to fortify Nigeria’s banking system. This milestone not only increases financial stability but also positions compliant banks for enhanced competitiveness and growth.
However, the recapitalisation exercise isn’t over. Those banks still advancing toward compliance will shape the next phase of Nigeria’s financial evolution.
In a dynamic economic environment, the completion of this capital realignment holds promise for consumers, investors, and the broader economy.
