The Central Bank Governor, Olayemi Cardoso, says the apex bank continues to stay alert to emerging risks such as cyber threats, credit-concentration pressures, and operational vulnerabilities.
These challenges, he explained, are being managed through strengthened risk-based supervision and the ongoing transition to Basel III, which is expected to enhance capital quality, reinforce resilience, and improve liquidity monitoring as the banking recapitalisation drive progresses.
Nigerian banks are navigating one of the most defining periods in their history. Importantly, members of the Monetary Policy Committee have acknowledged that the system remains safe and sound. At the 303rd MPC meeting in Abuja, the committee expressed satisfaction with the sustained strength of the banking sector, noting that most financial soundness indicators continue to fall within regulatory benchmarks.
Committee members also recognised the significant progress recorded in the recapitalisation programme, with 16 banks already fully meeting the revised capital requirements. They encouraged the CBN to ensure the programme is completed successfully.
With just under four months remaining before the conclusion of the recapitalisation exercise, Cardoso confirmed that the process remains firmly on course. Speaking at the recent Bankers’ Dinner in Lagos, he noted that several banks have already met the new capital thresholds, while others are steadily advancing and are well positioned to meet the 31 March 2026 deadline.
