The Central Bank of Nigeria (CBN) has said it cannot introduce new financial intervention programmes due to an outstanding exposure of N4.69 trillion, even as it confirmed that 33 out of 38 banks have met the revised minimum capital requirements under its recapitalisation exercise.
In a statement issued on Wednesday, the apex bank announced the conclusion of the recapitalisation programme, which began in March 2024 and spanned 24 months.
The statement, jointly signed by Hakama Sidi-Ali, Acting Director of Corporate Communications, and Olubukola Akinwunmi, Director of Banking Supervision, disclosed that Nigerian banks raised a total of N4.65 trillion during the exercise.
According to the CBN, the programme attracted strong participation from both local and international investors, with 72.55 per cent of the capital sourced domestically and 27.45 per cent from foreign markets. The bank noted that this reflects sustained investor confidence in Nigeria’s financial system.
CBN Governor, Olayemi Cardoso, said the recapitalisation has significantly strengthened the banking sector and positioned it to better support economic growth.
“The recapitalisation programme has reinforced the capital base of Nigerian banks, ensuring the system is resilient and capable of withstanding both domestic and external shocks,” Cardoso said.
The regulator confirmed that while 33 banks have fully complied with the new capital thresholds, a few institutions are still undergoing regulatory and judicial processes within established supervisory frameworks.
It also assured customers and stakeholders that all banks remain operational, with no disruption to banking services.
The CBN added that the exercise has improved capital adequacy ratios across the sector, keeping them above global benchmarks set under the Basel standards. Minimum capital adequacy ratios remain at 10 per cent for regional and national banks, and 15 per cent for banks with international licences.
The apex bank explained that the recapitalisation, combined with a phased exit from regulatory forbearance, has strengthened asset quality, enhanced transparency, and improved overall financial system stability.
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To sustain these gains, the CBN said it has reinforced its risk-based supervisory framework, requiring banks to conduct regular stress tests and maintain sufficient capital buffers.
It added that prudential guidelines and regulatory processes would continue to be reviewed to promote sound governance, effective risk management, and long-term stability in the sector.
The apex bank maintained that the successful completion of the programme has created a stronger and more resilient banking system capable of supporting lending, mobilising savings, and withstanding economic shocks.
It reiterated its commitment to maintaining a stable and transparent financial environment that inspires confidence among depositors, investors, and the wider public.
