The Central Bank of Nigeria (CBN) has disclosed that 32 deposit money banks have met the new minimum capital requirements ahead of the March 31, 2026 deadline.
Governor of the apex bank, Olayemi Cardoso, made the disclosure on Thursday at the 2026 Monetary Policy Forum in Abuja, where he also declared that the most difficult phase of Nigeria’s economic reform programme is now over.
Cardoso said the banking sector recapitalisation programme has recorded commendable progress, noting that the early compliance by a significant number of banks reflects growing confidence in the reform agenda and positions the sector to support productive investments.
He explained that the new capital thresholds are designed to enhance banks’ capacity to mobilise long-term funds, absorb shocks, and play a more effective role in financing Nigeria’s ambition of building a $1 trillion economy.
The CBN governor further noted that the recapitalisation exercise is part of a broader set of reforms introduced to restore macroeconomic stability after years of structural imbalances and policy distortions.
