Nigeria TV Info 

CBN Announces Next Step for Five Nigerian Banks That Failed to Meet Recapitalisation Target

The Central Bank of Nigeria has assured Nigerians that five deposit money banks yet to meet the ongoing recapitalisation requirements will continue operations while regulatory and legal issues delaying their compliance are being resolved.

CBN Governor Olayemi Cardoso made the disclosure after the latest Monetary Policy Committee meeting, stressing that the affected banks are not distressed institutions but lenders facing procedural and regulatory setbacks in completing their capital-raising processes.

According to the apex bank, 33 Nigerian banks have successfully met the new capital requirements introduced under the banking sector reform programme aimed at strengthening financial stability and boosting the sector’s ability to support economic growth.

Cardoso explained that some banks affected by the delay had earlier faced regulatory interventions, leaving them with less time than other institutions to conclude recapitalisation plans. He added that the CBN remains actively engaged with the banks to ensure they achieve full compliance within an acceptable framework.

The recapitalisation policy, introduced in 2024, requires commercial banks with international licences to maintain a minimum capital base of N500 billion, national banks N200 billion, and regional banks N50 billion. The initiative is designed to build stronger and more resilient banks capable of supporting Nigeria’s long-term economic ambitions.

The CBN also reassured depositors and investors that Nigeria’s banking sector remains stable and sound, urging the public not to panic over reports concerning the affected banks.