Rand Merchant Bank Nigeria Limited has announced meeting the new minimum capital requirement as set by the Central Bank of Nigeria.

This was disclosed in a statement made available to our correspondent on Monday, indicating that the MCR was achieved on 30 December 2025.

In March 2024, the CBN raised the operating minimum capital requirements for banks operating in the country. Banks with an international licence faced N500 bn, while national commercial banks were expected to raise N200 bn. The MCR for regional banks and merchant banks was pegged at N50 bn each. In the non-interest sector, national non-interest players were expected to meet a new N20 bn capital threshold, while regional players would raise N10 bn.

RMB Nigeria said that the milestone underscores its financial strength, resilience, and unwavering commitment to regulatory compliance, while reflecting shareholders’ confidence in the Nigerian economy and the bank’s role in shaping the country’s evolving financial landscape.

Meeting the CBN capitalisation threshold positions RMBN to deliver innovative financial solutions to clients, enhance customer confidence, and contribute to the stability and growth of Nigeria’s banking sector.

Commenting on the achievement, Chief Executive Officer of RMBN, Mr Bayo Ajayi, said, “We are proud to have met the CBN’s capitalisation requirement.

This achievement reflects our shareholders’ confidence in the Nigerian economy and our dedication to delivering best-in-class corporate and investment banking services across Nigeria and Africa. Our focus remains on building a stronger, more resilient institution that can thrive in Nigeria’s dynamic financial environment.”

With this feat, RMB Nigeria has joined the ranks of lenders who have met the MCR ahead of the March 2026 deadline set by the CBN.

At the last Bankers’ Dinner in Lagos, the Governor of the CBN, Olayemi Cardoso, confirmed that the process remains firmly on course. He noted that several banks have already met the new capital thresholds, while others are steadily advancing and are well-positioned to meet the deadline.

“To date, 27 banks have raised capital through public offers and rights issues, and sixteen have already met or exceeded the new requirements, a clear testament to the depth, resilience, and capacity of Nigeria’s banking sector,” he said.