The Central Bank of Nigeria (CBN) has announced that Nigerian banks raised ₦4.65 trillion in new capital over 24 months, marking the successful completion of the banking sector recapitalisation programme launched in March 2024. The initiative attracted strong participation from both domestic and international investors, with 72.55% of funds sourced locally and 27.45% from foreign markets, reflecting sustained confidence in the financial system.
CBN Governor Olayemi Cardoso noted that the programme has significantly strengthened banks’ capital bases, with 33 institutions meeting the revised minimum requirements. The reforms also improved capital adequacy ratios above Basel standards, enhanced asset quality, and reinforced balance sheet transparency, positioning banks to better withstand economic shocks.
The apex bank emphasized that the exercise was completed without disrupting banking services, ensuring continued access for customers. With strengthened regulatory frameworks and risk management systems, the recapitalisation is expected to boost lending capacity, support economic growth, and enhance overall financial system resilience.
