19 Nigerian Banks Achieve Full Compliance with CBN’s New Capital Requirements Ahead of March Deadline

By Emmanuel Kwada 

In a significant boost to Nigeria’s banking sector resilience, 19 banks have successfully met the Central Bank of Nigeria’s (CBN) revised minimum capital requirements as of today, well ahead of the March 31, 2026 deadline.

The milestone reflects strong investor confidence and proactive capital-raising efforts amid ongoing economic reforms aimed at positioning the sector to support a $1 trillion economy ambition.

The CBN’s recapitalisation programme, launched in 2024, mandates higher capital bases to enhance banks’ ability to absorb shocks, expand lending, and compete globally.

International authorisation banks must hold at least ₦500 billion in capital, national banks ₦200 billion, merchant banks ₦50 billion, and non-interest banks between ₦10 billion and ₦20 billion.

Compliant Banks by Category:

International Banks (₦500 billion requirement):

1. Access Bank

2. Fidelity Bank

3. First Bank

4. GTBank (Guaranty Trust Bank / GTCO)

5. UBA (United Bank for Africa)

6. Zenith Bank

National Banks (₦200 billion requirement):

7. Citibank Nigeria

8. Ecobank Nigeria

9. Globus Bank

10. Stanbic IBTC

11. Sterling Bank

12. Wema Bank

13. PremiumTrust Bank

14. Providus Bank

Merchant Banks (₦50 billion requirement):

15. FSDH Merchant Bank

16. Greenwich Merchant Bank

17. Nova Bank

Non-Interest Banks (₦10–20 billion requirement):

18. Jaiz Bank

19. Lotus Bank

These institutions have raised fresh capital through rights issues, public offers, private placements, and other approved methods, demonstrating robust market support.

Recent reports highlight oversubscribed offerings and rising banking sector market capitalisation, which reached trillions of naira in 2025 driven by recapitalisation momentum.

CBN Governor Olayemi Cardoso has repeatedly expressed satisfaction with the exercise’s progress, noting in late 2025 updates that a substantial number of banks were on track.

Industry analysts praise the early compliers for reducing execution risks and positioning themselves for growth in key sectors like infrastructure and manufacturing.

With less than three months remaining until the deadline, remaining banks are intensifying efforts, including potential mergers. The CBN assures that the process will strengthen the financial system without disrupting operations.

This development signals a healthier, more competitive banking landscape for Nigeria, fostering greater economic stability and credit access for businesses and individuals.