30 banks have met Central Bank’s new minimum capital requirements applicable to their respective licence authorisations, as of 6th March, 2026 less than 25 days to the March 31st deadline, Central Bank confirmed in a latest update by the Acting Director, Corporate Communications Hakama Sidi Ali (Mrs.) In total, 33 banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the programme, it clarified further.

The apex bank in 2024 mandated Nigeria banks to recapitalize by March 31, 2026, to strengthen financial stability and support a $1 trillion economy.

New minimum capital requirements (paid-up capital + share premium) are N500 billion for international, N200 billion for national, and N50 billion for regional commercial banks; Merchant Banks N50 billion and Non-Interest Banks N20 billion (national) and N10 billion (regional).

The CBN acknowledged that steady progress has been recorded by recapitalisation exercise , noting that , capital positions of the remaining banks are currently undergoing the Central Bank’s routine verification process ahead of final confirmation of compliance within the recapitalisation timeline.

It reiterates that the Nigerian banking system remains stable and sound. “The recapitalisation programme remains firmly on track and will further strengthen the capacity of the banking sector to support households, businesses, and sustainable economic growth” it affirmed in the statement, pledging a to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements.