On March 28, 2024, the Central Bank of Nigeria (CBN) mandated that banks with international authorisation maintain a minimum capital base of ₦500 billion, to be met by March 31, 2026. Since then, Nigeria’s seven internationally authorised banks have collectively raised more than ₦3.3 trillion in fresh capital as part of the industry-wide recapitalisation drive. The push comes as regulators prepare banks for a larger, more competitive financial system that will require stronger balance sheets ahead of the CBN's 2026 recapitalisation deadline.
Recapitalisation is not just about meeting regulatory requirements; it’s about positioning banks for a larger economy. Nigeria’s financial sector is expected to support larger infrastructure projects, bigger corporate financing, and increased cross-border banking activity.
