20 banks raise N4.05trn to meet capital threshold, says Cardoso
The Central Bank of Nigeria (CBN) has confirmed that 20 banks have successfully met the new minimum capital requirement ahead of the March 31 deadline, raising a combined total of N4.05 trillion.
CBN Governor, Dr. Olayemi Cardoso disclosed this at the end of the 304th Monetary Policy Committee (MPC) meeting held in Abuja on Tuesday.
According to him, 33 banks have so far raised additional capital, with 20 already meeting the regulatory threshold.
The remaining 13 are still working to comply before the deadline.
Members of the MPC noted the continued resilience of the banking sector, highlighting that key financial soundness indicators remain within regulatory limits.
“With regards to key financial soundness, the committee noted that of the 33 banks that have raised additional capital, 20 have met the new minimum capital requirement, reaffirming steady progress towards a more robust and well-capitalized financial system,” Cardoso said.
“The MPC reiterated the strategic importance of the recapitalization exercise and urged the bank to ensure its successful completion.”
Cardoso further revealed that of the N4.05 trillion raised by the 20 compliant banks, N2.90 trillion representing 71.6%, was sourced domestically.
“As of February 19, 2026, total verified and approved capital raised stands at N4.05 trillion. Of this, N2.90 trillion, which is 71.6%, has been mobilized domestically, with 706.84 million U.S., which is 1.15 trillion, representing 28.33% foreign. So, in summary, 71.67% is domestic mobilization and 28.33% is foreign participation.”
He noted that the blend of domestic and foreign capital reflects broad investor participation and confidence in Nigeria’s banking sector.
According to him, the strengthened capital base will enhance financial system resilience and improve banks’ capacity to support sustainable economic growth and price stability.
