The Central Bank of Nigeria (CBN) has disclosed that 20 commercial banks have so far met its ongoing recapitalisation requirements as of Thursday, January 15, 2026, signalling steady progress as the March 31, 2026 deadline approaches.

The update was given by the CBN’s Deputy Governor for Economic Policy, Dr. Muhammad Abdullahi, during a panel session at the launch of the 2026 Macroeconomic Outlook organised by the Nigerian Economic Summit Group (NESG) in Lagos.

He noted that the apex bank has remained actively engaged with financial institutions throughout the exercise and will continue to provide guidance in the coming months.

“We have about 20 banks that have already met it. A number of banks are meeting it every day. They’re huge. It’s very busy within CBN today, tomorrow, and through to March, as you can imagine,” Abdullahi said.

He added that beyond compliance, the CBN is now shifting attention to the quality of outcomes from recapitalisation, especially in terms of economic impact.

“The focus that we really are turning our attention to, especially from the financial system stability side, is that we ensure that a strengthened capital base translates into credit that is productive, that is well-targeted, and that is sustainable,” he explained.

The latest figure represents an improvement from the 19 banks that had reportedly met the requirements as of January 6, 2026.

With Nigeria having about 33 commercial banks, the update suggests that roughly 13 institutions are yet to fully comply by submitting the necessary reports and meeting the stipulated capital thresholds.

Recall that in March 2024, the CBN set March 31, 2026 as the deadline for banks to meet new minimum capital requirements.

Under the framework, international banks are required to maintain a minimum capital base of N500 billion, national banks N200 billion, merchant banks N50 billion, while non-interest banks are to hold between N10 billion and N20 billion, depending on their licence category.

Meanwhile, the Proshare Intelligence Unit, in its Banks Recapitalisation Watch for the Week Ended January 15, 2026, reported that Nigeria’s banking sector continues to record steady progress, with most institutions confirming compliance with the revised capital guidelines issued by the CBN.

In a recent development, Rand Merchant Bank Nigeria Limited (RMBN) announced that it had met the minimum capital requirement for merchant banks, achieving full compliance as of December 30, 2025. The bank said the milestone reflects strong balance sheet resilience and sustained shareholder confidence in both its operations and the Nigerian economy.

Proshare also reported that all listed Tier-1 banks have now met the N500 billion minimum capital requirement for international banking licences. This includes United Bank for Africa (UBA), which crossed the threshold after raising N178 billion through a rights issue. Most banks operating under national and regional licences have also reportedly achieved compliance.

Institutions confirmed to have met the benchmarks include Citibank Nigeria, Ecobank Nigeria, Alternative Bank, Standard Chartered Bank, Globus Bank, Stanbic IBTC, Sterling Bank, Wema Bank, The Premium Trust Bank, Providus Bank and TAJ Bank.

In addition, Fidelity Bank Plc secured approvals from both the CBN and the Securities and Exchange Commission (SEC) to raise N259 billion through a private placement of ordinarigible capital from N305.5 billion to N564.5 billion, subject to final regulatory confirmation.

Analysts note that the CBN is closely monitoring competition among local and international investors seeking strategic stakes in banks still short of recapitalisation targets, as the regulator remains open to foreign participation that can strengthen confidence and stability in the banking system. (Nigerian Tribune)