The Central Bank of Nigeria (CBN) has confirmed that 14 Nigerian banks have fully met the new capital requirements under its ongoing recapitalisation drive. Governor Yemi Cardoso disclosed this at the 302nd Monetary Policy Committee (MPC) meeting in Abuja, noting significant progress since the policy was introduced earlier this year.
The new minimum capital thresholds set N500 billion for international commercial banks, N200 billion for national banks, and N50 billion for regional and merchant banks. The recapitalisation aims to strengthen financial stability, improve risk management, and align the banking sector with Nigeria’s growing economic needs.
Alongside the update, the CBN boss disclosed further that Nigeria’s gross external reserve stood at $43.05 billion as of September 11, 2025, compared with US$40.51 billion at the end of July 2025, with an import cover of 8.28 months. Similarly, the second quarter 2025 current account balance recorded a significant surplus of $5.28 billion, compared with $2.85 billion in the first quarter of 2025. While private sector leaders welcomed the move, they cautioned that high cash reserve ratios could still constrain credit flows. The recapitalisation is expected to consolidate banking resilience and expand lending capacity.
