CBN Confirms 30 Banks Have Met New Capital Requirements Ahead of March 31 Deadline

The CBN reveals 30 Nigerian banks have met the new capital requirements ahead of the March 31, 2026 deadline. See how the recapitalization exercise is progressing.

By: AXL Media

Published: Mar 7, 2026, 5:41 AM EST

Source: The information in this article was sourced from Ripples Nigeria

Progress of the 2024 Recapitalization Directive

Nigeria’s banking sector is approaching the final stretch of a massive structural overhaul initiated by the Central Bank of Nigeria (CBN) in early 2024. The policy was designed to enhance the resilience of the financial system and provide the long-term capacity needed to support a trillion-dollar economy. As of March 6, 2026, the CBN disclosed that 30 banks have officially met the revised minimum capital thresholds relative to their specific license authorizations. This milestone indicates a high level of compliance and market confidence as the industry nears the official March 31 cutoff.

Tiered Capital Requirements for Banking Licenses

The recapitalization framework established by the CBN dictates specific capital floors based on the scope of a bank's operations. The requirements are categorized as follows:

International Commercial Banks: ₦500 billion

National Banks: ₦200 billion