MPC expresses satisfaction with banking system stability amid recapitalisation drive
The Central Bank of Nigeria (CBN), has confirmed that 16 banks have fully met the revised regulatory capital requirements, marking a significant milestone in the country’s ongoing banking sector recapitalisation programme.
Olayemi Cardoso, the CBN governor, made the announcement on Tuesday during a press conference following the 303rd Monetary Policy Committee (MPC), meeting in Abuja.
MPC Commends Banking System Resilience
Speaking at the event, Cardoso said the MPC expressed satisfaction with the sustained resilience of the Nigerian banking system. “Most financial soundness indicators remain within regulatory thresholds,” he noted, highlighting the sector’s stability despite broader economic challenges.
He added that the committee “acknowledged the substantial progress in the ongoing recapitalisation program, with 16 banks achieving full compliance with revised capital requirements.” The MPC has urged the CBN to ensure the programme’s successful implementation and conclusion.
Progress in the Recapitalisation Programme
Cardoso explained that the banks are actively working to strengthen their financial buffers — the intended outcome of the recapitalisation process. “16 of them have fully complied. 27 of them have, through various means, raised capital,” he said. “We are monitoring the developments and from every indication, it is going in the right trajectory.”
The recapitalisation effort has been part of a broader drive to develop a financial sector that is fit for purpose — one capable of building strong buffers and supporting the Nigerian economy effectively in the years ahead.
“Many of you will also know that many of our banks operate across the African continent and have been innovative in various markets,” Cardoso said. “The buffers that they are creating will help them better navigate the risks in the multiplicity of countries in which they operate. In return, that helps Nigerians as well — the traders, the individuals — who go across all these various geographies.”
CBN’s Capital Requirement Thresholds
On March 28, 2024, the CBN announced an increase in the minimum capital requirements for commercial banks with international licences to ₦500 billion. Following this announcement, several banks moved to raise funds through share issuances, bond offerings, and other mechanisms.
Zenith Bank – in January 2025, raised ₦350.46 billion via rights issue and public offering to meet the minimum requirement.
Guaranty Trust Holding Company Plc (GTCO) – successfully priced its fully marketed offering on the London Stock Exchange (LSE) in July 2025.
Previously, in September 2025, Cardoso had disclosed that 14 banks had fully met the recapitalisation requirements — up from eight banks in July — signaling a steady upward trend in compliance.
Significance for Nigeria’s Financial Sector
The recapitalisation programme is expected to strengthen the resilience of Nigeria’s banking system, enhance credit availability, and improve investor confidence. A well-capitalised banking sector not only safeguards depositors’ funds but also supports economic growth by providing robust lending to households and businesses.
With 16 banks now fully compliant and others actively raising capital, Nigeria is on a clear path toward building a more stable, resilient, and internationally competitive financial system.
