Nigerian banks boost capital base with N4.65tn recapitalisation
The Central Bank of Nigeria has announced that 33 banks have successfully met new minimum capital requirements, raising a total of N4.65tn. The recapitalisation programme drew both local and international investors and aimed to strengthen the financial system. According to the CBN, the process was completed without disrupting banking operations. Olayemi Cardoso and other officials highlighted improvements in capital adequacy and resilience across the sector.
What we know
- The Central Bank of Nigeria stated that 33 banks have met the revised minimum capital requirements under its recapitalisation programme.
- Local investors contributed 72.55 per cent of the new capital, while international investors provided 27.45 per cent.
- The CBN said all banks remain fully operational, ensuring uninterrupted access to services for customers.
- The recapitalisation exercise improved key prudential indicators, with capital adequacy ratios remaining above global Basel benchmarks.
- The Centre for the Promotion of Private Enterprise, led by Dr Muda Yusuf, noted that the reforms have yet to significantly benefit small businesses.
